North Korean chief negotiator Kim Gye-gwan urged all concerned parties to take simultaneous actions to narrow the differences in line with the principle of "commitment for commitment, action for action."

"We have put forward our stances to implement the joint statement with the full will to reach the denuclearization of the Korean peninsula," Kim told reporters outside the North Korean embassy in Beijing.

The first phase of the fifth-round six-party talks ended in Beijing Friday with a chairman's statement issued by Chinese delegation head Wu Dawei.

"We have talked about issues of each other's concern, taking measures in a phased manner and building up confidence," Kim said.

He stressed that the US should lift the financial sanctions on North Korea. "At this round of talks, we have raised very seriously the financial sanctions imposed by the US," Kim said.

"The financial sanctions are in violation of the joint statement we have adopted and are going to hinder the implementation of the commitment we have made," Kim added.

North Korea and the US have agreed to hold bilateral talks during the recess to solve the financial sanctions issue, he noted.

"We have made a commitment on nuclear abandonment because the US has pledged not to pursue a hostile policy on North Korea and to coexist peacefully with North Korea," he said.

The second phase of the fifth-round talks will open at the earliest possible date, he said.

(Xinhua News Agency November 12, 2005)