'Vietnam an example for North Korea'

U.S. President Donald Trump and Vietnamese President Nguyen Phu Trong make their way to a meeting at the Presidential Palace in Hanoi, Vietnam, February 27, 2019. Reuters-Yonhap

President Donald Trump was received by Vietnamese President Nguyen Phu Trong at the Presidential Palace before a bilateral meeting between the two countries, his first formal meeting during the two-day U.S.-North Korea summit in Hanoi.

During the meeting, Trump praised Vietnam as "an example as to what can happen" if North Korea fosters peace with the United States, stating that this is the reason why it was selected as the venue for their second summit.

"Vietnam is thriving and, very importantly, we have a very big dinner tonight, as you know, and meetings with North Korea, chairman Kim (Jong Un), and we both felt very good about having this very important summit in Vietnam because you really are an example as to what can happen with good thinking," he said.

Trump also said he was "very proud" of Vietnam and how much it has improved economically in the year since he last visited.

US President Donald Trump (C L) speaks during a meeting with Vietnam's Prime Minister Nguyen Xuan Phuc (C R) at the Government Office in Hanoi on February 27, 2019, ahead of the second US-North Korea summit. AFP-Yonhap

The two countries are set to sign a bilateral trade agreement later in the day, which Trump touted as "very big."

Ahead of the lunch meeting, Vietnamese carriers VietJet and Bamboo Airways signed deals with Boeing to buy 110 planes worth more than $15 billion.

Earlier in the day, Trump had held up Vietnam in a tweet as a model of what North Korea can become if it would denuclearize.

"The potential is AWESOME," he said. "A great opportunity, like almost none other in history, for my friend Kim Jong Un."

Trump is planned to have his first meeting with North Korean leader Kim later this evening. (UPI)