Singapore is hosting the summit which will have the President of United States, Donald Trump and North Korean leader, Kim Jong Un meeting face to face for the first time on the coming Tuesday (12 June).
According to Prime Minister Lee Hsien Loong, Singapore's hosting of the Trump Kim summit will give Singapore publicity and says something about the country's standing in the international community.
PM Lee was speaking to Singapore media on Sunday (10 June) at the International Media Centre in F1 Pit Building, where more than 3,000 journalists will be using to cover the summit.
He said, "In terms of direct impact, (hosting the summit) gives us publicity...The fact that we have been chosen as the site of the meeting, we did not ask for it ... it says something about Singapore relations with the parties ... and our standing in the international community,"
Channel News Asia quotes PM Lee saying that from Singapore's point of view, it is important that the meeting takes place and has a positive outcome - one that sets developments "on a new trajectory, and will be conducive to the stability and security in the region".
"When the two sides asked us to host the meeting, we couldn't say no. We have to step up and we can. We are capable of doing it, we have put some resources into it, but we can do a good job," he said.
Speaking on the expenses of the summit, PM Lee confirmed that Singapore will spend about S$20 million on the summit. On the amount spent, PM Lee said: "We are willing to pay and its our contribution to an international endeavour which is in our profound interest."
When asked to elaborate how Singapore might be able to recoup some of the costs of hosting the summit, he replied: "If you calculate the price of everything in this world, you will miss out on the real important things. And in this case what is important is that the summit is held, and we are hosting it, not extravagantly but with due consideration to costs, but making sure operational requirements are met."
PM Lee will be having separate meetings with Mr Kim and President Trump on 10 Jun and 11 Jun respectively.