U.S. President George W. Bush has welcomed a six-party agreement which commits North Korea to declaring and disabling its nuclear programs by year's end in return for energy aid and security guarantees.

Bush said in a statement Wednesday that the deal reflects the shared commitment of the six-party talks participants to realize a Korean Peninsula free of nuclear weapons.

He also said the accord maps out additional steps toward the ultimate goal of complete and verifiable denuclearization.

Bush said the six-party countries will provide the North with economic and energy assistance as Pyongyang implements its commitments under the latest accord.

Ahead of Bush’s statement, White House spokeswoman Dana Perino said the U.S. welcomes the agreement. She said it marks another step forward in the action-for-action implementation strategy Washington has pursued with Pyongyang.

State Department spokesman Sean McCormack also hailed the adoption of the six-way agreement, calling it a significant move forward.