LIMA, Nov 23: Chinese President Hu Jintao and his Russian counterpart Dmitry Medvedev on Sunday pledged closer cooperation to face the world financial crisis, a Chinese spokesman said.

“Both leaders agreed the world political and economic situation is experiencing great change and that the two sides must strengthen cooperation to face the current economic troubles,” Chinese foreign ministry spokesman Liu Jianchao said.

Russian media reports on the meeting in the Peruvian capital quoted Hu saying the two must work together against “the most deep and serious changes since the Cold War.” Meeting on the sidelines of the Asia-Pacific Economic Cooperation forum, Medvedev told Hu the current world problems should not inhibit both sides from “discussing fully fledged cooperative, strategic relations in all their fullness,” Russian media reported.

Russia and China, once bitter Cold War foes, have been developing increasingly close relations, seen by many as a potential check on US power.

Trade ties, particularly in the energy sector, have grown rapidly in recent years.

Hu called for even closer cooperation in the finance and energy spheres as a potential buffer against the global crisis, Liu said.

“The two sides need to work together to be able to reduce the risks from the financial crisis and safeguard economic growth,” Liu quoted Hu as telling Medvedev.

“At the same time they agreed to push forward reform of the world financial system.” During their 45-minute meeting, the two leaders also pledged to pursue a six-nation effort, chaired by China, to denuclearise North Korea, Liu said.—AFP