The parliaments of China and Egypt agreed in their first meeting of a regular exchange mechanism to develop cooperation in various fields, said a press release from China's  (NPC) on Friday.

The release said the two sides both spoke highly of the steady development of China-Egypt relations and believed that the regular exchange mechanism is an important platform for promoting mutual understanding, consolidating friendship and deepening cooperation.

During the meeting, co-chaired by Vice-chairman of the NPC Standing Committee Ismail Amat and Egyptian parliament speaker Ahmed Sorour, the Chinese side expressed hope to enhance political mutual trust, promote exchanges of legislation experiences, deepen cooperation in economy, trade and culture, and strengthen consultation and coordination in major international and regional issues, and in multilateral parliamentary organizations.

The Egyptian side, which said it was ready to carry on the regular exchange mechanism in the long term, hoped to strengthen cooperation on anti-terrorism legislation and learn from each other the experiences on safeguarding national sovereignty and territorial integrity, and promoting economic development and social harmony.

The two parliaments agreed to hold the second meeting of the mechanism in Egypt in 2008.

A memorandum of understanding on establishing the mechanism was signed by Chairman of the NPC Standing Committee  and Sorour during Wu's visit to Egypt in May this year, and the mechanism was officially launched by Wu and Sorour during their talks Wednesday in Beijing.