BRASILIA, July 17 -- China and Brazil pledged Thursday to further promote bilateral cooperation and consolidate their comprehensive strategic partnership.

During their talks here, Chinese President Xi Jinping and his Brazilian counterpart, Dilma Rousseff, summarized the successful experiences in the two countries' 40-year-old diplomatic relationship and charted the course for future bilateral cooperation.

"This year marks the 40th anniversary of the establishment of China-Brazil diplomatic relations. Bilateral ties have been developing steadily in the last 40 years, with political and strategic mutual trust as well as common interests reaching unprecedented heights," said Xi.

China and Brazil have become a "community of shared destiny," he added.

As two major developing countries and emerging-market economies, China and Brazil are both at a crucial stage of development, said Xi, urging the two sides to work for a more balanced international power structure and promote world prosperity and stability.

For her part, Rousseff said Brazil and China, as the largest developing country respectively in the West and East Hemispheres, share the same views on many strategic issues.

Brazil stands ready to exchange reform experiences and strengthen all-round cooperation with China, said the president, adding that it is highly important for her country to do so.

Brazil is boosting investment in transportation, infrastructure, agriculture, information, logistics and innovation in science and technology, and welcomes a broader involvement of Chinese enterprises, Rousseff said.

The railway project running from the Peruvian Pacific coast to the Brazilian Atlantic coast will play an important role in promoting Brazil's economic growth and lifting regional development, she said, pledging to "work together with China and Peru to build this project into a satisfactory one."

The Brazilian president said her country supports the expansion of people-to-people and educational exchanges with China, welcomes more Confucius Institutes in Brazil and encourages more Brazilian youths to study in China.

Rousseff suggested that Brazil and China boost cooperation within the frameworks of the United Nations and the Group of 20 (G20), push forward the implementation of the International Monetary Fund reform, advance the establishment of global Internet regulations and governance systems, and promote sustainable development of the world.

The two countries should build a long-term and stable cooperative partnership in mining and oil exploitation, launch strategic cooperation in high-speed railway construction, join hands in building the Brazil-Peru transcontinental railway, and enhance cooperation in finance, science and technology innovation, Internet and people-to-people exchanges, he said.

Following their talks, the two sides issued a joint statement on further deepening China-Brazil ties. According to the document, they signed 56 agreements during Xi's state visit to Brazil.

The document called for more robust exchanges between the two countries' governments, parliaments, parties and social organizations.

The two sides agreed to keep dialogue on Brazil's recognition of China's market economy status, and Brazil will take prompt measures in this aspect, the statement said.

China and Brazil are committed to strengthening transparent, non-discriminatory and inclusive multilateral trade mechanisms represented by the World Trade Organization.

There is huge cooperation potential in energy and mineral exploration, the two sides said, adding they prioritize two Chinese firms' participation in the consortium that last year won the right to exploring the Libra ultra-deepwater deposit, the South American country's largest oil field.

Two Chinese companies inked a deal with leading Brazilian aircraft manufacturer Embraer to purchase 60 E190 airplanes. Brazil also welcomes the State Grid Corporation of China to invest in, construct and manage power transmission projects in Brazil.

The two sides agreed to attach greater importance to China's relationship with Latin America, adding that the forum between China and the Community of Latin American and Caribbean States (CELAC), based on equality, mutual benefit and common development, will further promote South-South cooperation.

According to the statement, the two sides believe that the international community should work together to deal with Internet security threats based on mutual respect, equality and mutual benefit.

Beijing and Brasilia agreed to reform and improve the international financial system, and increase the voice and representation of emerging economies and developing nations.

Brazil is the first leg of Xi's ongoing Latin America tour, which will later take him to Argentina, Venezuela and Cuba.