NADI, Fiji -- The first Ministerial Conference of the China-Pacific Island Countries Economic Development and Cooperation Forum closed here Thursday.

Chinese Premier Wen Jiabao, Fijian Prime Minister Laisenia Qarase, Papua New Guinean Prime Minister Michael Somare, Vanuatu Prime Minister Ham Lini, President of Micronesia Joseph J. Urusemal, Prime Minister of Tonga Feleti Sevele, Prime Minister of the Cook Islands Jim Marurai, Premier of Niue M.Y. Vivian and Samoa Minister of Commerce, Industry and Labor Hans Joachim Keil attended the opening of the Forum conference on Wednesday.

In his keynote speech "Win-win Cooperation for Common Development," Premier Wen said it is a strategic decision, not a diplomatic expediency for China to foster friendship and cooperation with the Pacific island countries.

China is committed to "promoting peace and development through cooperation," and will continue to strengthen its friendship and cooperation with the Pacific island countries on the basis of the Five Principles of Peaceful Coexistence, said Wen.

He listed some measures China has decided to take to meet the current needs of economic development of Pacific island countries, which include providing RMB 3 billion yuan (about 371 million U.S. dollars) of preferential loans in the next three years to boost cooperation, giving zero-tariff treatment to the majority of exports to China from the least developed countries in the region that have diplomatic ties with China, and making all the seven island countries that have diplomatic ties with China tourist destinations for Chinese citizens.

The heads of State and Government also witnessed the signing of the China-Pacific Island Countries Economic Development and Cooperation Guiding Framework aimed at deepening friendship and cooperation between China and the Pacific island countries.

After the signing of the Framework, the ministers, heads of delegations, high-level officials and entrepreneurs from the business communities of China and the Pacific island countries went into panel discussions to explore ways of cooperation in such fields as tourism and transportation, trade and investment, agriculture, forestry and fishery.

During the two-day meeting, a series of cooperation agreements and documents were signed, including the Agreement on Establishing the China-Fiji Islands Trade and Economic Cooperation Commission, Y12IV aircraft Lease-purchase Contract between China and Fiji, the MOU on CDMA System Cooperation between IPBC of Papua New Guinea and Huawei of China, and the Supplementary Agreement on Setting up a Floating Fishing Wharf between China and Vanuatu.

The meeting was jointly sponsored by the Chinese Ministry of Commerce and the Fijian Ministry of Foreign Affairs and External Trade. Australia and New Zealand also sent ministers and officials to the meeting.

The meeting decided that the 2nd Ministerial Conference of the China-Pacific Island Countries Economic and Cooperation Forum, which will examine and assess the achievements of the first conference, will be held in Beijing.