Premier Li Keqiang shakes hands with Norway's Foreign Minister Borge Brende in Beijing, Dec 19, 2016. [Photo/Xinhua]

Premier Li Keqiang said China is willing to start negotiations on a free trade agreement with Norway, after the two countries agreed to normalize bilateral ties.

Premier Li met with the northern European country's Foreign Minister Borge Brende on Monday.

Historical exchanges between the two countries have demonstrated that political trust and bilateral ties are fundamentally based on mutual respect and taking good care of core interests and major concerns, Premier Li said.

Both foreign ministers have undertaken frank meetings to reach a consensus on normalizing ties and China appreciates the One China policy adopted by Norway's new administration and its sincerity to promoting bilateral ties, he said.

Norway was one of the first countries in the West to establish diplomatic ties with China in 1954, but diplomatic ties have been deteriorated since 2010.

Foreign Minister Wang Yi said recent years had seen serious backward steps for bilateral ties.

After meeting with Brende in Beijing he said Norway had reflected on the reasons and negotiated with China on how to improve the ties.

China hopes to work with Norway to open a new chapter for bilateral ties and promote a consistent, healthy and stable development, Premier Li said.

Brende said Norway would stick to the One China policy and respect the Asian country's core interests and major concerns.

The two countries have now agreed to start negotiations on a bilateral free trade agreement that Premier Li said would benefit both countries economically and promote trade liberalization and investment.

Norway's companies are also welcome to make investments in China, he added.

Last year, China purchased 2.8 percent of Norway's exports, ranking the ninth largest buyer for the northern European country, according to the Ministry of Commerce.