(VOVworld) - Chinese Premier Wen Jiabao on Tuesday met with U.S. President Barack Obama on the sidelines of the seventh East Asia Summit in Cambodia. Obama suggested that both sides should set out clear principles for investment and trade cooperation. The US and China are the world’s biggest economies which share responsibility of leading the way in ensuring sustained and balanced growth globally. Obama was committed to working with China as their ties have big impacts on regional and global security and prosperity. He called for continued dialogues of common concern and greater cooperation in response to challenges.

Chinese Premier Wen Jiabao and US President Barrack Obama in the meeting

Wen stressed discord between the two countries but affirmed that problems are solvable. He expressed his hope for closer financial and economic ties by reinforcing bilateral cooperation mechanisms on the basis of respecting each side’s benefits. Wen said the US and China work closely to address challenges and step up consultations on regional and global issues.