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US rejects financial talks with N. Korea
(AFP)
Updated: 2006-03-11 08:53
The United States has rejected a North Korean proposal to open two-way talks
on financial issues, at a time when Pyongyang is blaming U.S. accusations of
counterfeiting and money laundering for its decision to halt nuclear disarmament
talks.
North Korea presented the proposal for a "consultative committee of experts"
at a March 7 meeting in New York. The meeting was convened to enable U.S.
Treasury experts to explain to a North Korean delegation the U.S. laws that
triggered economic sanctions against Pyongyang last year.
In turning down the North Korean suggestion, the State Department said Friday
that regulations to protect the U.S. financial system are not subject to
negotiation.
"The United States will continue to regulate its financial system as it deems
appropriate in accordance with U.S. law," said a State Department official who
was not authorized to be identified when discussing the issue.
North Korea's proposal appeared to be a renewed attempt to open a bilateral
channel with Washington. The administration prefers to deal with North Korea
through the six-nation negotiations on North Korea's nuclear weapons program.
Those talks have been dormant since November. North Korea blames the impasse
on the financial sanctions. The United States contends that Pyongyang has
engaged in counterfeiting U.S. dollars and money laundering, which North Korea
has denied.
The State Department noted on Friday that a joint statement issued by the six
parties last September called for discussions on trade and investment issues
among the six as a way of ending North Korea's relative international isolation.
The department said the best way to implement the September accord is for
North Korea to return to the six-party talks.
The North Korean proposal was first reported in the South Korean media.
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