Chinese President Xi Jinping (L) shakes hands with Argentine President Cristina Fernandez de Kirchner during the signing of a joint statement after their talks in Buenos Aires, Argentina, July 18, 2014.  [Photo/Xinhua]

BUENOS AIRES - Chinese President Xi Jinping and his Argentine counterpart, Cristina Fernandez de Kirchner, agreed here Friday to upgrade bilateral ties to a comprehensive strategic partnership.

Bilateral cooperation has made tremendous progress since the two countries established a strategic partnership 10 years ago, Xi said in his talks with the Argentine president.

In order to promote the future development of bilateral ties, the two sides have decided to lift their relationship from a strategic partnership to a comprehensive strategic partnership, added Xi, who is here for a state visit to the South American country.

Noting that China and Argentina are both emerging-market economies at an important phase of development, Xi said they should stick to the in-the-same-boat spirit and deepen cooperation so as to tackle challenges and achieve common development.

He also urged the two countries to learn from each other's governance experiences, facilitate personnel exchanges and carry out more cultural exchanges.

The two sides, he said, should promote stable and balanced growth of bilateral trade, actively boost cooperation in such fields as gas, mining industry, agriculture and nuclear power, and deepen strategic cooperation in infrastructure construction and finance.

In addition, he suggested that the two sides strengthen communication and coordination on such major issues as global governance and the reform of international economic and financial systems, defend the rights of developing countries, and push for a more equitable and reasonable world order.

For her part, Cristina said the two countries share similar stands on a number of major issues and bilateral ties have strategic and global significance.

The establishment of the comprehensive strategic partnership serves the fundamental interests of both countries and peoples, and is conducive to the democratization of international relations, she added.

Argentina admires China's development, and is willing to learn from its successful experiences, she said, adding that her country also stands ready to boost cooperation with China under multilateral frameworks like the United Nations and the Group of 20.

The Argentine president also expressed her country's concern on its debt disputes with so-called "vulture" funds in the United States.