BEIJING - China and the Republic of Korea (ROK) hailed the development of ties since 2008's establishment of a bilateral strategic partnership of cooperation in a joint press communique issued here on Wednesday.

Coming amid ROK President Lee Myung-bak's visit to China, it says the two countries are pleased with achievements scored during the visit.

The two sides spoke highly of bilateral economic and trade cooperation, saying they are committed to work together to make two-way trade volume hit $300 billion in 2015.

The two countries agreed that an early deal on a bilateral free trade zone will create a more favorable institutional environment for trade and economic cooperation, which will also serve both countries' interests.

According to the document, China and the ROK will launch negotiations on the free trade zone once the ROK completes relevant domestic procedures.

Concerning maritime cooperation, the two countries agreed to maintain dialogue on sea demarcation, which is of great significance to long-term, stable development of bilateral ties, the document said.

China and the ROK agreed to properly handle problems emerging in the field of fishery while advancing existing cooperative mechanisms and coordination, so as to jointly protect order in fishery and ensure  sustainable exploration in fishery resources.

The two sides also agreed to launch dialogue and consultation which can involve bilateral foreign affairs and fishery departments, in efforts to boost cooperation on the sea.

The communique also touched on areas including politics, culture, and regional situation.

At the invitation of Chinese President Hu Jintao, Lee arrived in Beijing Monday, starting a three-day state visit to China.

This is Lee's second state visit to China since he took office in February 2008.