Beijing, China - Canadian Prime Minister Mark Carney hailed a "new strategic partnership" with Beijing after holding historic talks with Chinese President Xi Jinping on Friday.

"The Canada-China relationship has created massive opportunities for both our peoples," Carney said in a statement released by the Prime Minister's Office.

"By leveraging our strengths and focusing on trade, energy, agri-food, and areas where we can make huge gains, we are forging a new strategic partnership that builds on the best of our past, reflects the world as it is today, and benefits the people of both our nations."

Carney's meeting with Xi marks the end of an eight-year-long spat between Canada and China, which saw retaliatory arrests of each other's citizens and a series of tit-for-tat trade disputes.

Since entering office, however, Carney has sought to turn the page on the testy relationship in a bid to reduce Canada's economic reliance on the US as the Trump administration continues to wage its trade war on the world.

Addressing Xi in the Great Hall of the People, Carney said that the two countries could "build on the best of what this relationship has been in the past to create a new one adapted to new global realities."

In particular, he pointed to the energy, agriculture, and finance sectors as the scene of greater engagement and cooperation that will be "the foundation of our new strategic partnership."

Welcoming Carney, Xi said that China-Canada relations reached a turning point on the sidelines of the APEC summit in October and expressed happiness with the outcome of Carney's visit.

"It can be said that our meeting last year opened a new chapter in turning China–Canada relations toward improvement," Xi reportedly told Carney.

Carney and Xi released a joint statement following their meeting, outlining a series of key areas of cooperation which will see Canada seek closer ties with China as it continues to pivot away from the US.

On a wider scale, the two nations reached a vague agreement to "reinvigorate" dialogue on "macroeconomic" issues. They also committed to strengthening the trade relationship and strengthen two-way investment.

Perhaps most significantly, Carney and Xi reached an agreement to "cooperate in clean energy, and strengthen cooperation in conventional energy such as oil and gas resource development."

Both countries also agreed to "strengthen law enforcement cooperation to combat corruption and transnational crimes" and committed to fostering closer cultural ties in areas such as education and the arts.

"We're removing trade barriers to unlock billions of dollars in business for Canadian farmers, fish harvesters, and workers across agri-food sectors," Carney said in a statement on X.

"By March 1, we expect that China will lower tariffs on Canadian canola from 84% to about 15%, and that Canadian canola meal, peas, lobster and crab will no longer be subject to the anti-discrimination tariffs."