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Once the railway project is completed, transportation costs will be reduced, which will pave the way for more goods to be traded between Thailand and China, he said.

Close neighbors are better than distant relatives. This is a simple truth that the Chinese people got to know in ancient times. That explains China's firm commitment to building friendship and partnership with its neighbors to foster an amicable, secure and prosperous neighborhood. Under the principle of amity, sincerity, mutual benefit and inclusiveness, China is working actively to deepen win-win cooperation and connectivity with its neighbors to bring them even more benefit with its own development. China has signed treaties of good-neighborliness, friendship and cooperation with eight of its neighbors and is holding discussion to sign a same treaty with ASEAN. China stands ready to sigh such a treaty with all its neighbors to provide strong support for the development of bilateral relations as well as prosperity and stability in the region.

Priority should also be given to coordinated efforts among different regions in environmental protection, educational cooperation, science, technology and medical services, and deepening reform and opening-up, it said.

Local governments should reform investment and financing mechanism such as introducing more social capital to support railway project development and make coordinated efforts to streamline administrative approval and facilitate land acquisition and relocation, Li noted.

It will not only secure a win-win situation for China and Colombia, but will also promote cooperation between developing and developed countries to achieve an all-win scenario that is conducive to global economic recovery, Li said.