Chinese Premier Wen Jiabao told Vice President and Prime Minister of the United Arab Emirates (UAE) Sheikh Mohammed Bin Rashid Al Maktoum on Thursday China is ready to boost cooperation with the UAE in oil and gas exploration.

Mohammed is here to attend the World Economic Forum's (WEF) Inaugural Annual Meeting of the New Champions, which was launched on Thursday in China's northeastern coastal city of Dalian.

Hailing the rapid growth of China-UAE relations, Wen said the two countries have achieved a lot in their cooperation in trade, energy, infrastructure construction and other areas.

China treasures its relations with the UAE, the premier said, calling for both sides to maintain high-level exchanges and expand two-way investment, and step up cooperation in oil reservation facilities and engineering technologies.

Wen said China has all along proposed to achieve peaceful co- existence between the Arab world and Israel through political negotiations, based on relevant UN resolutions and the principle of "land for peace".

China supports the Arab peace initiative, the premier said, calling for Israel and Palestine to take positive measures to resume peaceful dialogues. In response, Mohammed told Wen the UAE hopes to keep high-level contacts with China, and beef up cooperation in trade, energy and other areas. The UAE expects to serve as a bridge for Chinese products to enter the Middle East and Europe, he added.

He believed the Middle East problems root in the conflict between Palestine and Israel, calling for various parties to sign a peaceful agreement at an early date.

(Xinhua News Agency September 7, 2007)