Trade between Singapore and North Korea could grow if UN sanctions against it are lifted, the city-stateâ€™s prime minister, Lee Hsien Loong, said on Sunday, as his country prepared to host a historic U.S.- North Korea summit.
Singapore Prime Minister Lee Hsien Loong visits a media center for the summit between the U.S and North Korea, in Singapore, June 10, 2018. REUTERS/Kim Kyung-Hoon
North Korean leader Kim Jong Un landed in Singapore on Sunday for a summit with U.S. President Donald Trump, which could end a nuclear stand-off between the old foes and transform secretive, impoverished North Korea.
Trump is due to arrive later on Sunday.
Singapore, which was North Koreaâ€™s seventh largest trading partner, suspended trade relations with it last year amid surging tension over its nuclear and missile programs.
â€œOf course, if there is an agreement, there is progress, the sanctions are lifted, I expect our trade will grow,â€ Lee said in remarks posted on the Straits Times newspaperâ€™s website.
â€œAnd we used to have some trade with them, so there is some potential but it will take some time,â€ he said.
Lee is due to met Kim later on Sunday and Trump on Monday.
Source: Thomson Reuters