UN Ambassador Nikki Haley welcomed the announcement and praised the UN Security Council for coming together to achieve this goal.
The UN said it welcomed North Korean leader, Kim Jong-Un's announcement that his country no longer needed nuclear weapons.
The surprise announcement by Pyongyang on Saturday to halt nuclear and missile tests and shut down its nuclear test site is expected to top the agendas, ministry officials said.
North Korea has always been a source of worry for the world at large. Trump welcomed the statement and said he looked forward to a summit with Kim.
Such determination "will créate a very positive environment for the success of the summits of both Koreas and between the North and the United States", it says in a communique.
On Thursday, President Trump told a joint news conference with Japanese Prime Minister Shinzo Abe that his campaign of "maximum pressure" on North Korea would continue until Pyongyang gave up its nuclear weapons.
Experts have speculated that a location for talks could be the Demilitarised Zone between North and South Korea, another Asian country, or a neutral European country.
While North Korea's statement could indicate a positive step toward lowering tensions on the Korean Peninsula, it falls short of saying it would scrap its existing missiles or nuclear weapons.
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The party decided that nuclear and ICBM launches will cease as of Saturday - it has not carried any out since November - and the atomic test site at Punggye-ri "will be abolished". In a statement through his spokesman, he also wished the leaders of the two Koreas "every success in their courageous and important task of resuming honest dialogue leading to sustainable peace on the Korean Peninsula" ahead of next week's summit.
But she added that "we have to keep the pressure up with the sanctions regime and everything else we are doing".
The country says it's making the move to shift its national focus and improve its economy.
North Korea has said over the years that it could consider giving up its nuclear arsenal if the United States removed its troops from South Korea and withdrew its so-called nuclear umbrella of deterrence from South Korea and Japan.
On Friday, Seoul and Pyongyang installed a telephone hotline connecting the South's presidential Blue House and the North's State Affairs Commission to discuss nuclear issues prior to next week's summit.
The announcements came days before North Korean leader Kim Jong Un is set to meet South Korean President Moon Jae-in in a border truce village for a rare summit aimed at resolving the nuclear standoff with Pyongyang.
But Kim told the Workers' Party meeting: "A fresh climate of detente and peace is being created on the Korean peninsula and the region and dramatic changes are being made in the worldwide political landscape".