BEIJING, Feb. 8 (Xinhua) -- China and the European Union (EU) should strengthen all-round dialogue and cooperation and uphold true multilateralism to cope with global challenges, Chinese State Councilor and Foreign Minister Wang Yi said Monday.

Wang made the remarks in a video conference with High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell.

Wang said that, at the end of last year, President Xi Jinping and European leaders jointly announced the completion of China-EU investment agreement negotiations, raising China-EU relations and pragmatic cooperation to a new level and bringing major positive news for the global economic recovery.

The two sides should grasp the opportunity to strengthen dialogue and cooperation in all areas, uphold true multilateralism, and jointly respond to global challenges to push the China-EU comprehensive strategic partnership to a new level, he added.

Borrell said that EU-China cooperation is fully necessary and irreplaceable. The EU is willing to hold candid dialogue with China, strengthen cooperation in various fields such as climate change, environmental protection, bio-diversity protection and sports, promote the signing and ratification process of the EU-China investment agreement, and deepen vaccine cooperation.