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Hu to take up Iran nuke, Chinese currency issue with US

President Hu Jintao will hold parleys with President Barack Obama on the sidelines of the Nuclear Security Summit to iron out various growing differences.

Beijing: President Hu Jintao will hold parleys with President Barack Obama on the sidelines of the Nuclear Security Summit to iron out growing differences on imposing UN sanctions against Iran and American demand to let Chinese currency appreciate against dollar.

Hu, who left for the US to attend the Summit on April 12-13 will deliver a speech stressing the importance of nuclear security and clarifying China`s policy on the issue.

Hu will meet with Obama on the sidelines of the summit, official Xinhua reported today.

"We hope common ground can be increased between all participants, and that they will pay greater attention to nuclear security, and work together to safeguard international peace and security," Chinese Vice Foreign Minister Cui Tiankai said.

China also hoped the summit would push international cooperation to ensure safety of nuclear materials and facilities, as well as the peaceful use of nuclear energy, Cui said ahead of the summit.

Despite persistent appeals from US, China which is a veto power wielding member of the UN Security Council and imports 11 percent of its oil to meet its energy requirements has not yet given its nod.

Speculation is rife that Hu may agree for limited sanctions targeting Iranian Revolutionary guards and financial institutions.

Hu was also expected to hold in depth discussions with Obama on the US demand to let Chinese currency Yuan to appreciate against dollar.

After the nuclear summit meeting, Hu will attend the second summit of the BRIC countries - Brazil, Russia, India and China - scheduled for April 15- 16 in the Brazilian capital of Brasilia.

Discussions among the BRIC countries are expected to centre on the need for changes in global institutions, including the International Monetary Fund (IMF) and the World Bank, and on updating the regulation of financial markets to avoid another global crisis.

China hoped the summit participants could discuss global issues in spirit of mutual benefit, so as to facilitate the recovery of world economy, safeguard the four nations` common interests and advance cooperation.

Hu would later visit Brazil followed by Venezuela and Chile.


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