'We need to help North Korea's economy' says Winston Peters

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AAP

Cautiously optimistic about North Korean denuclearisation, the New Zealand politician once sent to the hermit kingdom for peace talks says there's a way to help the process along: give North Korea's economy a hands up.

The Foreign Minister said it was too early to say if the Trump-Kim meeting could be deemed a success, “but at least it’s a serious start”.

Source: 1 NEWS

Foreign Minister Winston Peters - who in 2007 went to the secretive state in a bid to broker a deal - today gave his take on US President Donald Trump's recent efforts to a select committee in Wellington.

"We've got to keep our eyes wide open here and remember the history of this matter, but I think this time we just might be on the cusp of something seriously significant," he said.

"We hope that it is a decisive moment, but ... we'd want to see the evidence that the commitments were in fact, followed through."

However, Mr Peters had a different idea about what the best route to peace was.

"Personally, I've always believed that to ensure we've got a pathway forward that some countries should be looking seriously at helping North Korea to quickly transition into a modern economy," he said.

"It's a small price for us to play for the stability and security of the Korean peninsula."

Australian Foreign Minister Julie Bishop today said the world needed to keep pressure on North Korea until it showed concrete steps towards getting rid of its nukes.

It was also announced today that South and North Korea were holding rare high-level military talks in a effort to reduce tensions across the border.

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