At a ceremony held at the Routes Asia conference in Kunming, China, the MoU was signed by Birmingham Airport's aviation development director William Pearson and Jammes Shen, director of aviation marketing at Guangzhou Baiyun International Airport.
The agreement, which sees the two hubs become sister airports', signifies commitment by both parties to collaborate on joint marketing campaigns, policy co-ordination and sharing best practice.
Speaking at the signing, Mr Pearson said: "We are delighted to establish this new partnership with Guangzhou Baiyun Airport which we hope will pave the way for potential flights between the two cities in the future.
"This signing reflects our intent to work together, forging an effective working relationship and to develop mutually advantageous opportunities that will benefit both airports, as well as the cities of Birmingham and Guangzhou."
Mr Shen added: "Baiyun Airport and Birmingham Airport have signed a strategic co-operation framework agreement which will enhance the co-operation in areas such as hub construction, airport operation, joint marketing, airport service enhancement and airport resource sharing.
"By signing this agreement, Baiyun and Birmingham Airport can also contribute to the rapid development of the aviation market of Guangzhou and Birmingham."
This partnership follows the recent announcement that non-stop charter flights between Birmingham and China would recommence in the summer.
Operated by Hainan Airlines using a Boeing 767-300 aircraft, the twice weekly service to Beijing will begin on July 3 following the extension of the runway at Birmingham Airport.