European Business Association (EBA) in Pyongyang

From their website:

EBA-president Abt stressed the need for European companies to catch up with Chinese and other Asian companies. In fact, out of the total DPRK foreign trading volume of 3.11 billion USD in 2003 over two third was mainly with China and to a much lesser degree with South Korea and Japan according to the South Korean government. The trade with the EU accounted for less than 10 %. In 2004 foreign trade with China increased by 35,4 %.

Although the European Union increased its exports in the first 6 months of 2004 by 17,2% to 132,0 Mio. USD and its imports by 11,3 % to 17,7 Mio. USD compared to the first semester 2003, Europe’s overall share is further declining.

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One Response to “European Business Association (EBA) in Pyongyang”

  1. […] One such businessman is Felix Abt, the president of the European Business Association (A.K.A  EU Chamber of Comerce in Korea) based in Pyongyang. In this email interview with The Korea Herald, Abt said he is confident that North Korea-based businesses will, as they have with previous crises, weather this latest political storm. […]