China's leader Xi Jinping reiterated the necessity of an infrastructure development bank in Asia, to further enhance the region's connectivity.
He proposed the plan during a meeting with Thailand's Prime Minister Yingluck Shinawatra in Bali, Indonesia, on Sunday. Both are there to attend the annual summit of the Asia-Pacific Economic Cooperation forum.
He also promised that China would import more agricultural products from Thailand and urged Thailand to improve the quality.
According to the Thai government's website, Yingluck supported the plan and promised to materialise plans under the memoranda of understanding signed with China. Both agreed on joint development in high-speed train, water management, clean energy, education and human resources. Bilateral trade is expected to reach US$100 billion within 2015.
Thailand also asked for China's support for its application for the position of non-permanent member of the United Nations Security Council (UNSC).
Xi praised the Thai prime minister for her dedication in strengthening the bilateral relationship. He also said that the Thai-Chinese relations would be a model for China to strengthen relations with other Asean nations.