ST. PETERSBURG: The presidents of China and the United States yesterday agreed to work together for peace and stability on the Korean Peninsula.

President Hu Jintao and US President George W. Bush participate in a bilateral meeting on the fringe of the G8 Summit in St. Petersburg, Russia, July 16, 2006. [Reuters]

They also agreed to make joint efforts to find a peaceful resolution to the Iranian nuclear standoff.

The two leaders said they would look at and deal with Sino-US relations in a strategic and long-term manner, expanding benefits for both nations.

The consensus was reached when President Hu Jintao and his US counterpart George W. Bush met on the sidelines of the ongoing Group of Eight (G8) Summit in St. Petersburg, former capital of Russia.

"President Bush and I agreed in the talks that the two nations will commit to promoting the Six-Party Talks aimed at denuclearizing the Korean Peninsula through political dialogue," Hu told reporters at a joint briefing with Bush after their 30-minute closed-door meeting.

"We also reached a consensus on joint efforts to promote the peaceful resolution of the Iranian nuclear issue," said Hu.

At the invitation of Russian President Vladimir Putin, Hu arrived in St. Petersburg yesterday for the outreach session of the annual summit of the world's leading economic powers, which involves the US, Japan, Germany, Britain, France, Italy, Canada and Russia.

Hu and Bush's summit is the second time the two have met in three months. Their previous meeting was in April, when Hu visited the US.

"Given the complicated and volatile international situation, it is of crucial importance for China and the US to have consultations and co-ordination on major international issues.

"It is in the interest of both sides, as well as for the peace and stability of the world at large," said Hu.

Saying he had had a "very good dialogue" with Hu, Bush said he welcomed the resolution on the Democratic People's Republic of Korea's (DPRK) missile tests, which was unanimously approved by the UN Security Council on Saturday.

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