Pakistan Tuesday welcomed historic meeting between the leaders of the United States and North Korea and expressed hope that it would lead to lasting peace and stability in the region. 

The spokesman was commenting on the first ever summit in Singapore between President Donald Trump and Chairman Kim Jong Un of DPRK, in which the two leaders inked an agreement aimed at complete denuclearisation of the Korean peninsula and reducing tensions.

The agreement said the two countries would co-operate towards “new relations” while the US would provide “security guarantees” to North Korea.

Trump said he expected the denuclearisation process to start “very, very quickly”. US Secretary of State Mike Pompeo and North Korean officials would hold follow-up negotiations “at the earliest possible date”, the statement said.

Trump told the news conference that the process would be verified, and that the verification “will involve having a lot of people in North Korea”.

He also said Kim had told him North Korea was destroying a major engine-testing site used for missiles, but maintained international sanctions on Pyongyang would stay in place for now.

Trump said joint military exercises with South Korea would be halted. He said the move would save Washington a tremendous amount of money and would not be revived “unless and until we see the future negotiation is not going along like it should”.