HONG KONG - Chief Executive Donald Tsang said here on Tuesday Sino-US relationship is very important to the world, and the two can achieve more together with mutual trust.

The Sino-US relationship is very important to the peace and prosperity of the world, and in particular the Asia-Pacific, Tsang said in his address during a conference discussing the relations between the United States and Asia.

He said he believes that America and China can achieve so much more together, and can achieve so much more for the world, if the relationship is based on mutual trust, mutual respect and mutual benefit.

"More can always be achieved as partners rather than competitors, and as friends rather than foes", he said.

Looking ahead to US engagement in Asia, Tsang said respect and fairness are the key.

"Respect and fairness will be two of the major values that can bring us closer together, as well as potentially pull us apart", he said.

Tsang said he believes that the United States and the West need to better understand the development aspirations of Asia, particularly in light of the global financial crisis which has severely eroded trust in the Western financial model.

As Asian economies grow and prosper, they will become more confident about what they want and how they want to achieve it, he said.