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The areas of cooperation also included the circular economy, smart city development, and ways to tackle climate change.

Mohamed Farid Hegazy expressed hopes that the two countries and two militaries can further enhance exchanges and communication in various fields and make even greater progress in boosting bilateral relations.

The agreement is "primarily an opportunity to supply China with direct information on behalf of (Brazil's) agribusiness, and for us to receive information on Chinese raw materials," said Sanchez, who was among the Latin American participants at the forum.

Investments from Chinese companies have rapidly increased in Spain in recent years, with a stock of more than 2.3 billion U.S. dollars, covering sectors including energy, agriculture, finance, logistics, telecommunications and infrastructure.

The United States attaches importance to U.S.-China economic and trade cooperation and would like to continue to expand export to China, he said, adding that the economic teams from the two sides need to enhance exchanges and consultations.