( CNN ) -- U.S. President Barack Obama met with Chinese Premier Wen Jiabao on Tuesday , the first top-level meeting between the two countries since the presidential election and a power transition in China . They met at the East Asia Summit in Cambodia , the third leg in Obama 's Asian tour , which hopes to foster deeper political and economic ties in the region . Obama was keen to put the focus on trade issues , and ignored questions on a bitter maritime dispute that overshadowed discussions on the first day of the summit on Monday . He told Wen that China and the U.S. should `` work to establish clear rules of the road internationally for trade and investment which can increase prosperity and global growth . '' In return , Wen pledged to cooperate in financial and economic matters `` to tackle the difficulties we have and resolve the differences and disagreements between us . '' Both Obama and Governor Mitt Romney talked tough on China during the presidential campaign , particularly on trade and currency disputes , although Obama was more measured in his criticism . Wen congratulated Obama on his re-election and sent greetings from China 's new leader Xi Jinping . Xi will officially succeed President Hu Jintao in March after he was selected as head of the Chinese Communist Party at last week 's party congress . Obama also met with Japanese Prime Minister Yoshihiko Noda and held discussions with leaders from ASEAN , a grouping of 10 southeast Asian nations . During the summit , ASEAN leaders clashed publicly about how to handle a bitter territorial dispute in the South China Sea and what role the U.S. should play in resolving it . China claims sovereignty over most of the waters , which are thought to contain oil and gas deposits , but Vietnam , the Philippines , Malaysia , Brunei and Taiwan have made rival territorial claims . Cambodia 's statement on Sunday that ASEAN 's 10 leaders had agreed not to `` internationalize '' the South China Sea dispute by limiting the body to direct negotiations with China provoked an an angry rebuke by the Philippines , which said there was no consensus . Philippines President Benigno Aquino said he wanted the U.S. to get involved in discussions , according to the Philippines Daily Inquirer . `` Our region is very diverse and its harmony can easily be disrupted by sheer political , military , or economic might . Imbalance , as we know , may lead to instability , '' he said . `` While we are all aware that the U.S. does not take sides in disputes , they do have a strategic stake in the freedom of navigation , unimpeded commerce , and the maintenance of peace and stability in the South China Sea . '' Alan Dupont , a professor at the University of New South Wales in Australia , said that the while U.S. was happy to push China to the table , it was unlikely to step directly into trying to resolve the issue . `` The U.S. is not a claimant in the South China Sea dispute but it does have an interest in maintaining freedom of navigation , '' he said . Obama and ASEAN leaders agreed to support the drafting of a regional code of conduct to manage disputes in the sea . China repeated its long-held position that the disputes should resolved through `` consultations and negotiations by sovereign states directly concerned . '' Dupont said that China had conceded some ground by agreeing to discuss the dispute with ASEAN . `` But it made it clear it will do so in discussions with the ASEAN countries and not involve other parties , specifically read in brackets the United States , '' he said . Anna Coren in Cambodia contributed to this report .
Obama in Cambodia for regional summit on last leg of Asia trip . Meets with Chinese Premier Wen Jiabao and other leaders . - May 10 : Visits South Korea to meet President Lee Myung-bak, then heads back home to Washington D.C. - May 11 :