COLOMBO, Dec. 23 -- The Maldives is considering to support the proposal of setting up the Asian Infrastructure Investment Bank (AIIB), local media reported on Tuesday.

The bank, an international financial institution proposed by China, is aimed at providing finance to infrastructure projects in the Asia Pacific region.

The Maldives and China have been seeing increasing economic cooperation, as the two countries are weighing for free trade in the future, the Minivan News reported.

Minister at the President's office Mohamed Shareef said both governments will make sure that the agreement leads to a "win-win" situation.

Chinese tourists make up more than a quarter of the arrivals in the Maldives, according to statistics release by the South Asian island nation.