China and Australia agreed on Tuesday to upgrade economic cooperation and diversify trade during Foreign Minister Wang Yi's visit to Canberra.

After talking with his Australian counterpart Julie Bishop, Wang told reporters that he and Bishop have agreed to boost free trade and make the bilateral trade more diversified and sustainable from the current thriving mineral trade.

China expects to make joint efforts with Australia to prepare for the high-level exchanges, Wang said.

Speaking highly of the China-Australia free trade agreement signed a year ago, Wang vowed to take a "firm stand" against protectionism.

"At a time when we face an international situation that is full of uncertainties, we agree to send a clear message that is, it is important to firmly commit to an open world economy," he said.

It's important to steer economic globalization towards greater inclusiveness and broader shared benefit in a more sustainable way, he added.

Australia is committed to ensuring the free trade agreement with China continues to grow, and said the countries plan to cooperate more on tourism, regional infrastructure, innovation and energy, Bishop said.

"At a time of economic transition and uncertainty around the world, Australia reassures China that we are a reliable partner and that we will continue to place a strong trade and economic relationship as one of our highest priorities," she told reporters.