After a hiatus of three years and four rounds of intensive deliberations by the Six Party negotiators on the issue of denuclearization of the Korean Peninsula, an agreement has finally evolved whereby North Korea has pledged to dismantle its nuclear weapons programme. Pyongyang signed a joint statement on 19 September 2005 with the United States, Russia, Japan and South Korea for the normalization of ties. The nuclear accord has been ardently welcomed by the non-proliferation regime. It seeks to strengthen the non-proliferation order that received a crucial setback at the outcome of the NPT 2005 Review Conference held earlier this year.

The joint statement signifies the unanimous reaffirmation of the six parties for a verifiable denuclearization of the Korean Peninsula in a phased and peaceful manner. In accordance with the statement, North Korea agreed to disassemble all nuclear weapons and existing nuclear programmes and subject itself to international nuclear safeguards. In reciprocity, the other five negotiating members have promised aid, normalization of relations, security and a light water nuclear reactor for civilian use.

The incentives offered are immense. South Korea has promised energy assistance, including regular electricity across the heavily armed border that divides the Peninsula. The US has also provided assurance that it has no intention to attack with nuclear or conventional weapons. Pyongyang has also been guaranteed enormous cooperation in the fields of trade and investment and a consistent peace regime in the Korean Peninsula. All these have been the principle demands of the Stalinist country and has received assurance by the five negotiating members in accordance with the principle of 'commitment for commitment, action for action.'

The process achieved by the multinational group for de-escalation in the Korean Peninsula is a remarkable development. Multinational efforts have been successful in bringing the communist dictatorship to the negotiating table and formalize North Korea's pledge to adhere to the IAEA safeguards "at an early date".

The latest development in Northeast Asia raises the hope and expectation for genuine nuclear disarmament. At present, the non-proliferation regime is stressed because of countries like North Korea and Iran who have flouted the NPT with impunity. The outcome of the Six Party talks enhances the prospects, reducing the danger emanating from the most lethal weapons of the world. Significantly, it strengthens the non-proliferation leadership and seeks to consolidate it further.

At a regional level, the success of the Six-Party negotiations proves tremendously worthwhile is resolving the bilateral constraints existing in Northeast Asia. Nuclear weapons pose a thorny issue in the existing stagnant relations between North Korea and South Korea. Bilateral relations deteriorated further with Pyongyang using nuclear weapons as a bargaining chip in international dealings. The fourth round of the Six Party talks will help to improve the dampened North-South relationship. Seoul has extended huge economic assistance and power supply to its northern neighbour. Such a move will also prove beneficial for South Korea. Many South Koreans are sceptical of the government's policy towards the North. They believe that the bulk of the economic assistance provided to the North goes eventually into the production of nuclear weapons. What then is the justification behind providing aid to a nation on the brink of starvation? As a negotiating member in the Six-party talks, Seoul can now legitimately expect that Pyongyang will not use aid for weapons purpose.

North Korea's relations with Japan had hit its lowest ebb since the induction of the Pyongyang manufactured Nodong missile in its nuclear arsenal and the abduction issue. Fired from Pyongyang, Nodong has the capability to hit potential value targets in Tokyo in less than ten minutes. The result would be unspeakable disaster. Having been a victim of nuclear weapons catastrophe, Japan is cautious about any future nuclear onslaught. The latest talks will help ameliorate bilateral relations and act as a catalyst for peace and normalcy in the Korean Peninsula.

The latest round of negotiations will also prove as a strong factor for consolidation of international treaties and laws. It calls for greater transparency in matters dealing with nuclear weapons. North Korea would be required to open up its nuclear installations and disassemble the unspecified number of nuclear devices for the purpose of verification as agreed in the statement. Currently, US officials estimate that Pyongyang has enough stock of plutonium to manufacture at least nine nuclear weapons.

For the first time since the Bush administration's second tern, the Six-Party negotiations have been successful in uplifting diplomatic relations with the United States. US-North Korea relations were deeply embittered after Pyongyang deceitfully abrogated the Agreed Framework. In 1994, after making a similar commitment with the Clinton administration, it froze activity at one nuclear complex only to clandestinely launch a programme to develop a bomb by other means. However, the latest developments have the potential to improve bilateral ties and giving diplomacy another chance. Unlike the case in Iraq, the US has shown considerable flexibility in its policy deliberations towards Pyongyang. It has patiently attended several rounds of discussions with North Korea. The Pyongyang demand for a light water nuclear reactor for civilian use before dismantlement of its nuclear programme has not been completely brushed aside by the United States. The US negotiator, Christopher Hill has iterated, "We are going to get this done", implying that the US will not go back to scratch. Persistent diplomacy will help the agreement to see the light of the day.

Further, Washington and Seoul have also reaffirmed the non-deployment of nuclear weapons in South Korea. These statements are meant to reassure Pyongyang that no nuclear threat emanates from the US, a fear that Kim Jong II has used to justify the development and production of nuclear weapons.

Finally, the Six-party talks have provided a significant victory for North Korea, which has won a non-aggression pledge from Washington and secured economic and energy aid. It is equally significant that the US has adopted the 'Libya model' instead of the 'Iraq model' in relation to North Korea. It is now the turn of Pyongyang to fulfill its international commitments in accordance with the joint statement. North Korea must display strong wisdom and make the best of the opportunities in the prevailing circumstances to restore durable peace and normalcy in Northeast Asia.