Britain's Prime Minister Gordon Brown (R) poses with his Japanese counterpart Yasuo Fukuda in 10 Downing Street London June 2, 2008. (Xinhua/Reuters Photo) 

British Prime Minister Gordon Brown said Monday he and his Japanese counterpart Yasuo Fukuda had agreed to deal with rising food and fuel prices at the upcoming G8 summit in Japan next month.

At a joint press conference with Fukuda after talks at No. 10 Downing Street, Brown said the two sides had identified rising commodity prices as "a global problem that now requires coordinated international action."

"We agreed it was important for G8 members to press oil-producing nations to do all they can to increase oil production and investment to improve future supply," said Brown.

The British Prime Minister said the two sides agreed there's an urgent need for the world to reduce its dependence on carbon fuels and diversify its energy supply.