Published: Jan 10, 2011 8:42 PM EST
Updated: Jan 10, 2011 5:42 PM EST

WASHINGTON (AP) - President Barack Obama says the U.S. and France must work together this year to address pressing financial issues as the world climbs out of economic crisis.

Speaking in the Oval Office alongside French President Nicolas Sarkozy, Obama said he looks forward to working with France to help frame the agenda for the upcoming G8 and G20 economic summits. France currently holds the presidency of both groups and will host the summits later this year.

Sarkozy says he recognizes the importance of the dollar to the global economy, but wants to work with the U.S. to address currency imbalances. Sarkozy thinks the global monetary system should not rely so heavily on the dollar as the world's main reserve currency.

He has not proposed specifics for an alternative future system.

Obama and Sarkozy said they also discussed terrorism, Iran and the recent independence referendum in southern Sudan.