Chinese President Xi Jinping and the President of the United States, Donald Trump, said on Thursday in Beijing that their countries will increase cooperation over trade in order to enhance regional security, particularly with regard to the Korean Peninsula and Afghanistan.

The well-being of people in both China and the US – and indeed global peace, prosperity and stability – depend greatly on good relations between the two countries, Xi said in an opening speech at the Great Hall of the People. Cooperation is necessary to achieve a win-win situation and a better future, he added.

China-US relations had achieved significant progress this year, Xi said, as both he and Trump agreed to strengthen communication and coordination over the Korean Peninsula and Afghanistan and to enhance military, trade, law-enforcement and cultural cooperation.

Trump said China-US relations are crucial as they involve so many other nations. He said China and the US have the ability to resolve problems in the world together.

The US, he said, will amend its policies to boost trade with China and other countries. He said he and Xi discussed the issue of North Korea and were in agreement, although he did not elaborate.

Prior to the meeting, Trump, who arrived Beijing on Wednesday for a three-day state visit, was welcomed by the People’s Liberation Army’s Guards of Honor and a 21-gun salute.

It was Trump’s first visit to China since he became US president in January. He becomes the first US president to visit China within 10 months of being inaugurated.