North Korea itself set Thursday as the deadline for handing over its nuclear declaration [AFP]
George Bush's statement on Thursday came shortly after officials in Beijing confirmed receiving the North Korean report.
North Korea has handed over a declaration on its nuclear activities to China, prompting the US president to announce that Washington will move to take Pyongyang off a US list of state sponsors of terrorism.
"North Korea has begun describing its plutonium-related activities ... It has promised access to the reactor core and waste facilities at Yongbyong, as well as personnel related to its nuclear programme," Bush said at the White House in Washington.
"The United States is responding to North Korea's actions with two actions of its own. I'm issuing a proclamation that lifts the provisions of the Trading With The Enemy Act ... secondly, I am notifying congress of my intent to rescind North Korea's designation as a state sponsor of terrorism in 45 days.
"During this period, the United States will carefully observe North Korea's actions, and act accordingly."
'More information needed'
The US actions would depend on verification of continued North Korean moves towards its nuclear disarmament, Bush said.
"North Korea must dismantle all of its nuclear facilities, give up its separated plutonium, resolve outstanding questions on its highly enriched uranium and proliferation activities, and end these activities in a way that we can fully verify" George Bush, US president
"The two actions the United States is taking will have little impact on North Korea's financial and diplomatic isolation ... All United Nations Security Council sanctions will stay in place as well," he said.
"North Korea must dismantle all of its nuclear facilities, give up its separated plutonium, resolve outstanding questions on its highly enriched uranium and proliferation activities, and end these activities in a way that we can fully verify."
The North Korean report delivered to Chinese officials is a truncated version of a declaration originally sought by Washington.
Melissa Chan, Al Jazeera's correspondent in Beijing, said: "What we are seeing is a report that does not answer any questions about the North Koreans' nuclear enrichment programme; it does not specifically say how many nuclear warheads they have. So there is an avoidance of issues here.
"Even though the Americans have been counting this [report] as progress, some critics say the report is not a full disclosure of what the North Koreans have been up to in the past few years.
"Others say the six-party talks are a diplomatic process that will last for some time and any sort of development of this kind should be welcomed as a positive move."
Nuclear pledge
The handover of the North Korean declaration is a significant step in the implementation of a six-party nuclear disarmament pact signed early last year.
China hosted talks that secured the deal offering North Korea diplomatic and economic incentives to disable its main nuclear facility and declare all related programmes.
The removal of North Korea from the US terrorist-sponsor list could ease international trade and financial restrictions, as well as improving ties between Pyongyang and Washington.
Japan has expressed unease over Pyongyang being taken off the US blacklist before the issue of its citizens being kidnapped by North Korea is resolved.
Map shows North Korean political map. Yongbyon is located north west of Pyongyang in the North Pyongyang province

Fulfilling a pledge of fairness, United States president George W. Bush announced Thursday that the United States will soon remove North Korea from a list of countries seen as 'sponsoring terrorism' in the world.

The announcement was made as a 'reward' to North Korea for turning over all documents related to its controversial nuclear program. Pyongyang turned over to China documents related to its plutonium core and waste activities.

Pyongyang finally turned over documents and plans of its nuclear enrichment facilities in Yongbyong. 

North Korean state television also announced that the state will televise the demolition of the cooling tower of the Yongbyong nuclear facilities on Friday.

Mr. Bush called the North Korean action as a positive step with no illusions. He also said that the act truly pleased him and it's just the first step towards repairing North Korea's relation and status with the world community.
United States President George W. Bush

The president added that in response to the act, he will lift the trade sanctions under the Trading With the Enemy Act. The White House will also inform the U.S. Congress that in 45 days, the State Department will remove North Korea from a list of nations that sponsor terrorism.

The United States reminded North Korea that it still has some requirements to complete in order for the country to be completely removed from its diplomatic and economic isolation. Pyongyang still remains obliged to answer questions such as the degree of its uranium enrichment and proliferation that possibly benefited Syria.

The United Nations sanction sponsored by the United States issued on February 13, 2007 also demanded for a complete accounting of the alleged half a dozen units of nuclear bombs, the real number and its actual location. 

U.S. National Security Adviser Stephen Hadley downplayed any heightened expectations from North Korea and branded the latest act as a mere "stepping stone." Hadley warned that the process remains delicate and there will still be "definite consequences," if North Korea fails to fulfill its end of the bargain.

Meanwhile, Japan expressed 'unease' over the decision of the United States to remove North Korea from the 'terror' list, claiming that there is still a need to resolve issues about the kidnapping of Japanese nationals by agents of Pyongyang.