OSAKA, Japan (AP) — Japan's finance minister says the United States and Japan are promising to work closely together to tackle soaring rise of oil and food prices and other global economic problems.

The remarks from Finance Minister Fukushiro Nukaga came after he met U.S. Treasury Secretary Henry Paulson on Friday. They are both in the western Japanese city of Osaka for a two-day Group of Eight meeting of industrialized nations.

"We need to coordinate our actions closely because of the many risk factors," Nukaga told reporters on the sidelines of the G-8 meeting, which is starting Friday.