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"Authorities should break down structural and institutional obstacles, advance sci-tech, management, branding and business models and promote innovation in military-civic integration," according to a statement issued after the meeting.

We believe that countries are all entitled to take an equal part in regional security affairs and all are obliged to work to ensure security for the region. The legitimate security concerns of each country need to be respected and addressed. At the same time, in handling security issues in Asia, it is important to bear in mind both the history and reality of Asia, take a multi-pronged and holistic approach, improve coordinated regional security governance, and safeguard security in both the traditional and non-traditional realms. It is important to conduct dialogue and cooperation to enhance security at national and regional levels, and to increase cooperation as the way to safeguard peace and security. It is important to resolve disputes through peaceful means, and oppose the willful use or threat of force. Security should be given equal emphasis as development, and sustainable development surely provides a way to sustainable security. Countries in Asia need to step up cooperation with countries and organizations outside the region and all parties are welcome to play a positive and constructive role in upholding development and security in Asia.

During their talks, the two leaders also vowed to cement bilateral cooperation and create a favorable social atmosphere for friendship between the two countries.

Brazil, Colombia, Peru and Chile are important countries in Latin America and China's major economic trade partners in this region.

It could bring along more projects as the initiative unfolds, Huang said in an interview with Xinhua.