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"If that respect is preciously valued at the bilateral ties, and enhanced by political trust, then there is no obstacle before a solid cooperation that will certainly benefit both countries and advance ties further," he said.

The two sides will work together with other ASEAN countries to promote even greater progress in the ASEAN-China strategic partnership and safeguard peace and stability in the region, it said.

He suggested that the participants stick to the EAS' nature of a "leaders-led strategic forum," to ASEAN's central role, to advancing on the two wheels of economic development and political security, and to promoting coordinated development of different mechanisms.

South Korea has also adopted a strategy of "going global" for its enterprises. Therefore, it is hoped in South Korea that China's Belt and Road initiative could offer more opportunities for Korean enterprises, he said.

"As the two biggest developing countries, and neighbors, deepened political mutual trust and expanding cooperation will benefit the region and the world," Li said.