Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

UPDATE 1-Southeast Asia, Australia "gravely" concerned by North Korean weapons

Published 18/03/2018, 07:14 pm
Updated 18/03/2018, 07:20 pm
© Reuters.  UPDATE 1-Southeast Asia, Australia "gravely" concerned by North Korean weapons

* North Korea threatens global security - ASEAN

* ASEAN demands "complete, irreversible" denuclearisation

* "Cautiously encouraged" by recent thawing - Singapore PM (Writes through)

SYDNEY, March 18 (Reuters) - Southeast Asian countries and Australia said on Sunday they held "grave concerns" about escalating tension caused by North Korea's nuclear and missile programmes and urged "irreversible" denuclearisation.

North Korea is pursuing its weapons programmes in defiance of U.N. Security Council sanctions and has boasted of its plans to develop a missile capable of hitting the U.S. mainland.

It defends the programmes as a necessary deterrent against perceived plans by the United States, which stations 28,500 troops in South Korea, for invasion - a plan the United States denies.

"We strongly urge the DPRK to immediately and fully comply with its obligations under all relevant United Nations Security Council Resolutions," the Association of Southeast Asian Nations (ASEAN) and Australia said in a joint declaration, using the initials for North Korea's official name.

The country's nuclear and ballistic missile development "threaten regional and global security" the declaration added, calling for the "complete, verifiable and irreversible denuclearisation" of the nation.

Tensions have eased in recent weeks, coinciding with North Korea's participation in the Winter Olympics held in the South last month.

U.S. President Donald Trump also announced surprise plans to meet North Korean leader Kim Jong Un before May, after Kim "committed to denuclearisation", according to South Korea's National Security Office. are cautiously encouraged by these developments," Singapore Prime Minister Lee Hsein Loong told reporters in Sydney after the publication of the ASEAN declaration.

"The situation on the Korean peninsula is a complicated problem which will take time to resolve, and we hope these recent steps will contribute to lasting peace and stability."

Australia hosted ASEAN meetings this weekend, despite not being a member of the 10-nation bloc, as it seeks to tighten political and trade ties in the region amid China's rising influence.

The summit focused on fostering closer economic and security ties among ASEAN and Australia, with the nations also railing against protectionist sentiment and calling for "self-restraint" in the disputed South China Sea, a regional flashpoint.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.