Chinese Premier Zhu Rongji, Japanese Prime Minister Keizo Obuchi and South Korean President Kim Dae-jung held an informal breakfast meeting in Manila Sunday and discussed the regional economic situation.

They also discussed the development of their respective economies in what officials described as "light and friendly atmosphere."

Obuchi and Kim expressed their appreciation with the great achievements in China's economy, congratulating on and welcoming the signing of an agreement earlier this month between China and the United States on China's entry into the World Trade Organization (WTO).

Premier Zhu said the Sino-US agreement is not only beneficial to the two countries, but also conducive to the development of the world economy in general and Asia's economy and trade in particular.

When China becomes WTO's formal member, it will endeavor to strengthen coordination and cooperation with other countries, and will represent the region's aspirations and interests even better in the world, he said.

Zhu also congratulated South Korea on the rapid recovery in its economy, hoping that Japan will set its economy back on normal tracks so that it can play an active role in promoting the regional development.

The three leaders also attended a summit with the Association of Southeast Asian Nations (ASEAN) held later Sunday.