New U.S. Treasury Secretary Timothy Geithner and Finance Minister Shoichi Nakagawa agreed Wednesday to cooperate closely in addressing the global economic crisis, a Finance Ministry official said.
In a 15-minute telephone conversation, the two also agreed that Japan and the United States will "proactively" implement their respective fiscal stimulus measures to buoy their faltering real economies, the official said.
The two expect to meet during the Feb. 13-14 Group of Seven meeting in Rome. They did not touch upon foreign-exchange control policy, he added.
Nakagawa and Geithner acknowledged that a global partnership is needed to cope with the worsening economic conditions worldwide. They recognized that the deteriorating real economy, led by the auto industry, has exacerbated employment conditions, the official said.
Nakagawa expressed hope that Geithner will fully draw upon his experience, knowledge and personal connections to overcome the economic difficulties.