London, April 1 (ANI): The United States and China on Wednesday agreed that there was need to step up economic co-operation to address the ongoing global financial crisis.
Ahead of the G-20 economic summit to be held here on Thursday, the US President Barack Obama and Chinese President Hu Jintao met here and both Heads of State expressed a commitment for the need to resist protectionism and ensure stable US-China trade relations.
The two leaders agreed to establish a Strategic and Economic Dialogue group to tackle the global financial crisis and strengthen the worlds's financial systems.
Following the meet, Obama accepted an invitation to visit China this year.
"The Presidents agreed on the need for sweeping changes in the governance structure of international financial institutions," a White House statement was quoted by the BBC, as saying.
The two Heads of State also agreed to cooperate on nuclear issues concerning North Korea and Iran, adding that they would resume discussions about human rights "as soon as possible".
Meanwhile, Chinese President Hu Jintao stressed a commitment to expand domestic demand to fuel economic growth. (ANI)