BANGKOK - China and Thailand signed here Friday a memorandum of understanding on railway cooperation.

Following a bilateral meeting, Chinese Premier Li Keqiang and Thai Prime Minister Prayut Chan-o-cha witnessed the signing ceremony at the Thai Government House.

The MoU allows China to invest in two dual-track rail lines in Thailand that will span 734 km and 133 km respectively and connect northeast Thailand's Nong Khai province, Bangkok and eastern Rayong province.

The project is estimated to cost some $10.6 billion.

The two countries also signed another MoU on cooperation on agricultural products trade.