DURBAN, South Africa - Chinese President Xi Jinping said Wednesday that boosting ties with Brazil is China's firm strategic choice.

"Brazil is the first developing country to forge strategic partnership with China," Xi told his Brazilian counterpart Dilma Rousseff on the sidelines of the fifth BRICS summit.

"China-Brazil ties have exceeded the boundary of bilateral relations with increasing strategic significance and global influence," Xi said. "Both nations see each other's development as opportunities for its own development and take it as a firm strategic choice to boost the bilateral cooperation."

Xi said China stands ready to work with Brazil to build a new paradigm of state-to-state relationship amid deepening economic globalization.

He called on the two countries to tap their respective advantages, promote trade and investment at the same time, with enhanced cooperation in key sectors, increased point-to-point cooperation in industries, and diversified bilateral trade.

Xi also urged stronger financial cooperation and a steady progress in settling bilateral trade accounts in home currencies. He also urged the two sides to guide their enterprises toward settling their disputes in an appropriate way.

Rousseff said the bilateral relations have made substantial progress in recent years and grown more important.

The two sides have established cooperation mechanisms, formulated a joint action plan and expanded cooperation, said Rousseff, adding that China is now the largest trading partner and export market for Brazil.

She said both countries are faced with vital opportunities to deepen their strategic cooperation.

Brazil sees eye to eye with China on the necessity to further cooperation, welcoming Chinese enterprises to participate in Brazil's communications, transportation and other large-scale infrastructure projects, and encouraging bilateral financial cooperation, she noted.

She also urged promoting educational exchanges and Chinese language teaching and learning in Brazil.

On the international front, she said, Brazil is ready to work with China to enhance cooperation under such multilateral frameworks as the Group of 20, and jointly speed up the reform of the international monetary and financial systems.

The two leaders favored establishing a China-Brazil business forum to promote cooperation between the two countries' enterprises.

Xi appreciated the important role Brazil has played in Latin American affairs, hoping the region would grow stronger.

"China is ready to strengthen the comprehensive cooperative partnership with Latin America through the establishment of a China-Latin America cooperation forum, achieve win-win cooperation and promote South-South cooperation," he said.

Rousseff supported establishing such a forum.

Leaders of five major emerging economies -- Brazil, Russia, India, China and South Africa, collectively known as BRICS -- wrapped up their latest round of summit in this South African city Wednesday that aimed to promote their partnership for development, integration and industrialization.