PM Lee hopes summit will get things moving in positive direction
$20 million bill for Trump-Kim summit is Singapore's contribution to global stability
The historic Trump-Kim summit could set developments in the Korean Peninsula on a constructive path, marking a U-turn in a situation that was heading in the wrong direction, said Prime Minister Lee Hsien Loong.
This, in turn, affects the security of not just Asia, but the whole world, he said, adding that he hopes tomorrow's meeting - the first between a sitting United States President and a North Korean leader - will eventually lead to denuclearisation.
"That's a long process, but this is a first step. And if the first step happens in Singapore, well, we are happy to be associated with it."
PM Lee was speaking to Singapore media during a visit to the international media centre at the F1 Pit Building yesterday.
PM Lee noted that North Korea and South Korea have been at war since 1950. The North invaded the South on June 25 that year. Today, both sides remain technically at war.
Over the past three decades or so, North Korea embarked on a nuclear weapons programme.
Successive US presidents, other world leaders and the United Nations have tried to pressure and cajole the country into scrapping it but with little success.
PM Lee said yesterday there have been numerous discussions and agreements that were broken. Mistrust and misunderstanding has built up over the years as a result.
"So you cannot wipe that all away with one meeting," he said. "What you can hope to do is to start things moving in a positive direction."
PM Lee revealed that the bill for hosting the historic Trump-Kim summit will come to about $20 million, with security costs accounting for about half of that figure, but added that this is Singapore's contribution to an international endeavour that is "in our profound interest".
"It is a cost we are willing to pay," he said.
"From our point of view it's important that the meeting takes place, and that the meeting has a positive outcome, sets developments on a new trajectory - one that will be conducive to the security and stability of the region."
On what this means for Singapore, he said: "Indirectly an unstable or tense North-east Asia is not good for us. So we hope that this will lead to stability and peace in North-east Asia, and that indirectly will be to our benefit."
Singapore could also conceivably see its trade with North Korea grow in the long term if the geopolitical situation improves.
PM Lee noted that Singapore's trade with North Korea has substantially diminished to a "negligible level" of $700,000 last year - a 96 per cent drop from 2016.
Singapore was North Korea's seventh largest trading partner in 2017, before it suspended all trade with it in November that year in line with toughened sanctions imposed by the UN Security Council. Statistics on trade between the two countries are not readily available.
"Of course if there's an agreement, if there's progress, the sanctions are lifted, I expect our trade will grow," said PM Lee. "But it will take some time."
PM Lee met North Korean leader Kim Jong Un yesterday evening, and will meet US President Donald Trump today.
Asked what he intended to discuss with them, PM Lee replied: "I think they will be focused on their bilateral meeting. My meeting with them is a courtesy call, and I will of course hear what's on their minds, and I will tell them that they have our full support to make this a successful meeting."
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