BEIJING, Feb. 4 -- China and Cambodia agreed on Thursday to support each other on issues concerning their respective "core and major interests."

The consensus was reached in Beijing during the third meeting of the China-Cambodia Inter-Governmental Coordination Committee, co-chaired by Chinese State Councilor Yang Jiechi and Cambodian Deputy Prime Minister Hor Namhong.

The two countries will continue high-level contacts, strengthen their strategic communication and coordination on international and regional affairs, said an official press release.

Chinese Vice Foreign Minister Liu Zhenmin told journalists after the meeting that both sides agreed to continue promotion for a proper settlement of the South China Seaissue.

Liu reaffirmed that the issue should be addressed through a "dual-track" approach -- disputes should be resolved peacefully through negotiation between the parties directly concerned, and China and ASEANcountries should work together to maintain peace and stability in the South China Sea.

China and ASEAN (Association of Southeast Asian Nations) countries should jointly safeguard the freedom of navigation in the South China Sea, according to Liu.

He said China stands ready to work with Cambodia and other Southeast Asian countries to safeguard regional peace and stability.

The two sides also agreed to cooperate in trade, investment, infrastructure, agriculture and other economic fields so as to achieve common development, according to the press release.

They also reached consensus on enhancing people-to-people exchanges and security cooperation.

The first meeting of the China-Cambodia Inter-governmental Coordination Committee was co-chaired by Yang and Hor Namhong, also Cambodia's foreign minister, in Beijing in January 2014. The second meeting was held in Phnom Penh in December 2014.