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United Nations, Sept.25 (ANI): Chinese Premier Wen Jiabao has told US President Barack Obama that the common interests of China and the United States far outweigh their differences.

According to the China Daily, the meeting between the two leaders lasted for about two hours on the sidelines of the general debate of 65th session of the United Nations General Assembly.

It focused on regional and world issues, with a call for more cooperation.

Jiabao said Beijing and Washington could bolster joint efforts on significant international and regional affairs, as well as on global financial woes and climate change.

“China and the US have also embraced an even closer and stronger relationship in the fields of public finance, financial industry and economic cooperation and trade,” said Wen.

He added: “Our common interests far outweigh our differences.”

Although differences exist between the two countries, they can be solved through dialogue and cooperation, he said.

Wen said that China is ready to coordinate closely with the US, foster favorable conditions for President Hu Jintao’s visit next year and push bilateral ties to a higher level, and added that he was hopeful about the US recognizing China’s status as a full-market economy and loosen restrictions on its exports.

Obama said his administration has established an active, cooperative and broad relationship with China, calling China an “outstanding partner”.

“We have worked together on a whole range of issues. Obviously, one of the most important issues has been to deal with the financial crisis and the recession that (has) traveled around the world over the last several years,” said Obama, adding that the G-20 cooperation has been absolutely critical.

“We also have to work cooperatively together to achieve regional peace and stability” because the world looks to the relationship between China and the US as a critical ingredient on a range of security issues, he added.

Obama said the US welcomed China’s renminbi exchange rate reform and encouraged firms from both countries to increase investment.

The US is willing to strengthen cooperation with China in the fields of energy and environmental protection and jointly find an effective way to radically improve their trade relationship, he said.

He also said that the US has confidence in overcoming its differences with China through dialogue, by deepening common interests and by developing a strong and cooperative relationship.

Obama said he expects to meet President Hu Jintao at the G-20 and Asia-Pacific Economic Cooperation summits this year and is looking forward to the latter’s visit to the US next year.

Wen arrived in New York on Tuesday evening and attended a series of UN meetings, including the Millennium Development Goals Summit and the general debate of the 65th session of the UN General Assembly. (ANI)