Archive for the ‘International Governments’ Category

Integration in the Absence of Institutions: China-North Korea Cross-Border Exchange

Tuesday, August 9th, 2011

Peterson Institute Working Paper WP 11 – 13
Stephan Haggard, Jennifer Lee, and Marcus Noland

Read the full paper here (PDF).

Theory tells us that weak rule of law and institutions deter cross-border integration, deter investment relative to trade, and inhibit trade finance. Drawing on a survey of more than 300 Chinese enterprises that are doing or have done business in North Korea, we consider how informal institutions have addressed these problems in a setting in which rule of law and institutions are particularly weak. Given the apparent reliance on hedging strategies, the rapid growth in exchange witnessed in recent years may prove self-limiting, as the effectiveness of informal institutions erode and the risk premium rises. Institutional improvement could have significant welfare implications, affecting the volume, composition, and financial terms of cross-border exchange.

JEL: P3, P33, F15, F36
Keywords: economic integration, property rights, institutions, transition, China, North Korea

Read the full paper here (PDF).

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Russian logging jobs on the wane?

Tuesday, August 9th, 2011

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Pictured Above (Google Earth): Tynda Logging Camp in Russia. See in Google Maps here.

 

According to the Daily NK:

Kim, a defector who arrived in South Korea in 2008 after working for 30 years in the North Korean forestry sector, explained to The Daily NK on the 5th, “North Korea’s operations in Russia are now just enough to send timber to North Korea on the birthdays of Kim Il Sung and Kim Jong Il; they provide little real benefit in terms of foreign currency earning.”

In essence, Kim went on, “North Korea is just running the Forestry Mission to maintain its relationship with Russia.”

Following a 1967 agreement between the two countries, logging has at times played a key role in North Korea’s hard currency earning efforts, with more than 20,000 North Korean laborers being involved in forestry operations in Russia by the start of the 1990s.

Under the agreement, Russia agreed to provide the trees, equipment and power, while North Korea would provide the labor, and both countries shared the timber.

However, the deal is no longer beneficial to the North Korean state, as Kim explained in more detail, saying, “At the moment, Russia takes 72% and North Korea 28% of what is felled by these North Korean laborers, but most of the money North Korea earns from selling it on to Chinese trade companies goes on the laborers’ wages, accommodation, food and administration of the Forestry Mission. Now that Russia is a market economy with constantly rising prices, there is hardly any hard currency left to send back to the North Korean authorities.”

“Recently, China has been offering the Russians more money for these felling operations, so the North Korean laborers have no choice but to go home,” Kim added, continuing, “In addition, the scale of the workforce and operations has been decreasing recently partly because those groups of workers who protest about wage delays and whatever else are all dispatched back to North Korea.”

“In the past there used to be trade missions in Tynda and Khabarovsk, but now they is only the one in Tynda, with seven logging businesses underneath it,” he said. “The Khabarovsk trade mission has recently been closed down, and there are now a total of just nine logging operations underway in all of Russia.”

The numbers of loggers has shrunk to “4,000 in Khabarovsk and 2,000 in other remote areas; a total that does not exceed 6,000,” Kim stated.

Even the remaining forestry mission in Tynda is not large, with a president, chief engineer and vice-director working in parallel with a Party chief secretary, organizational secretary and propaganda secretary. Although each secretary has two or three workers under him, even with the National Security Agency staff that keeps tabs on the activities of the workers included in the total, the mission remains small.

Elsewhere, however, there are actually tens of thousands of North Korean laborers in Russia working in fields including construction, agriculture and mining, including around 30% of the 6,000 nominally said to be involved in logging.

The activities of military-run enterprises are on the increase, too. Kim explained, “Following cooperation between the Russian Air Force and the North Korean Air Force Command, there are now farming operations going on around air fields. If you include the General Reconnaissance Bureau, North Korea has sent at least a few tens of thousands of people to Russia.”

Given the ever increasing number of laborers running away from their assigned workplaces, Kim speculated there could also be as many as 600 or more defectors residing in Russia.

“In 2006 the Ministry of Forestry sent some cadres all over Russia to try and lure defectors back home, but these people had grown accustomed to living in Russia and nobody listened. There were 598 at that time, so it’s probably even higher by now,” Kim said.

One other key reason why North Korea has been unsuccessful in its attempts to retrieve the defectors is that the Russian authorities take a sympathetic view of their plight. According to Kim, “Russia does not forcibly repatriate defectors in the same way as China, so they are able to marry and work there. The Russian police have been treating defectors as humanitarian refugees since 2005, aware that forcibly repatriated defectors risk public execution and that their families face punishment, too.”

Naturally though, surveillance and control of the laborers is as severe as it has always been at the logging sites. Every week the workers are forced to participate in Party-led activities including mutual criticism sessions. The authorities are trying to limit the number of defectors by encouraging them to spy on one another, and the NSA has an intricate system of investigation to maintain order. Nevertheless, workers are sufficiently unhappy with their situation that defections continue to occur.

According to the Russians, there were 32,000 North Koreans working in the country in 2010. Here is a link to the source of this number and previous posts on North Koreans logging in Russia.

Read the full story here:
Logging in Russia: Not What It Used to Be
Daily NK
Kim Yoinh-hun
2011-8-8

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CIA updates DPRK World Factbook statistics

Sunday, August 7th, 2011

According to Yonhap:

The life expectancy of an average North Korean stands at 68.9, placing it 149th among 222 countries checked, a U.S. media report said Saturday.

According to Voice of America (VOA), which cited the latest findings by the U.S. Central Intelligence Agency (CIA), the typical North Korean male born this year can expect to live 65 years, while the average female is expected to live 72.9 years.

The numbers are an estimation of how long babies who are born this year will live.

The VOA said that the original data did not elaborate on why there was a jump in the life expectancy of over four years. Last year, the CIA claimed North Korea’s life expectancy stood at 64.13 years.

The latest findings, meanwhile, said that as of July, there were over 24.45 million people in North Korea, with the U.S. Census Bureau predicting the population may grow by around 10 percent to 26.86 million by 2050.

The CIA periodically updates the data on its World Factbook (and changes the URLs), but because historical data is deleted and  the methodology for determining the findings is not publicly known, it is hard to know where exactly the numbers come from, why they have changed, or what it all means. With any change in data we could be looking at a new trend or we could be seeing corrections in previously flawed data.

The World Factbook’s “Guide to Country Comparisons” was the source for the statistics in this story.

Read the full story here:
N. Korea’s life expectancy ranks 149th in the world: report
Yonhap
2011-8-6

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Steve Park claims MOU with DPRK over Kumgang

Saturday, August 6th, 2011

Steve Park, president of Korea Pyongyang Trading USA which imports a North Korean Soju (see previous posts here), claims that he has signed a MOU with the DPRK over tourism in the Kumgang resort.  This claim has been picked up by numerous media outlets.  It might be true, but I have yet to see the MOU documentation or any corroboration in the DPRK media.

According to the Hankyoreh:

Park Il-woo, also known as Steve Park, who has long conducted business with the communist nation, said his firm recently signed a memorandum of understanding (MOU) on the Mount Kumgang tourism business. He is the president of Korea Pyongyang Trading U.S.A., which imports a North Korean liquor branded Pyongyang Soju.

The MOU stipulates that the company will be in charge of marketing, investor relations and tourist recruitment for what is said to be the most scenic mountain on the peninsula. Under the agreement, the mountain area will be developed into a multi-purpose resort.

He said he plans to visit North Korea this weekend or next week to discuss concrete business plans. He expressed confidence that he will be able to attract substantial U.S. investment for the business. The North is also expected to select Japanese and Chinese business partners soon, he added.

According to another article in the AFP:

“I understand (the North) will also select Japanese and Chinese business partners soon,” said Park, whose company imports a North Korean liquor branded Pyongyang Soju.

No sooner had the deal been announced than the South Koreans raised the point that Mr. Park will need the permission of the US government to carry out his business plans. According to Yonhap:

A small New York-based company selected by North Korea to revive a stalled tour program to a mountain resort in the isolated country needs the endorsement of the U.S. government for its project, a South Korean official said Friday.

The U.S. Executive Order 13570 that took effect in April prohibits the importation into the United States, directly or indirectly, of any goods, services, or technology from North Korea.

Under the order, the envisioned tour program to North Korea’s Mount Kumgang by Korea Pyongyang Trading U.S.A. is subject to the U.S. government’s approval, the official said.

The company, headed by a Korean-American businessman, has yet to file an application with the U.S. government for approval of its proposed tour project in the North, the official said on the condition of anonymity, citing office policy.

U.S. State Department officials in Washington were not immediately available for comment.

The comments by the South Korean official came days after the New York firm signed a memorandum of understanding with the North on the tour program.

According tot he Donga Ilbo, Mr. Park has not yet submitted any paperwork to the US government:

Korea Pyongyang Trading USA is known to have not yet submitted an application to the U.S. government for business with the North.

Another South Korean government source said, “Considering the scale and situation of the trading company that was reportedly chosen as the new operator of the Mount Kumgang tour program and under the conditions of U.S. sanctions against the North and the executive order, we cannot confidently say the Mount Kumgang tour project will be implemented.”

These views by Seoul officials apparently reflect their internal judgment that they cannot accept Pyongyang`s unilateral revocation of Hyundai Asan’s exclusive right to the tours and appointment of a new operator.

The South Korean government understands that the North is taking steps to attract another foreign business other than the American company. Government officials in Seoul predicted, however, that the North is unlikely to find an operator due to U.S. sanctions against Pyongyang, limited demand for tours, and lack of infrastructure in the North.

A timeline of Kumgang stories from the shooting until now can be found here.

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Millions under threat as hunger stalks North Korea, says visitor

Thursday, August 4th, 2011

By Michael Rank

North Korea’s orphanages are full of malnourished children and food shortages in the isolated nation look set to get much worse, said a recent visitor who knows the country well.

Former member of the European Parliament Glyn Ford said shortages of food were affecting “tens of thousands of children, not just orphans, and there may be millions of people under threat of malnutrition” in North Korea.

Ford visited two orphanages in Hamhŭng (Hamheung), the country’s second largest city, where he was shown children who were extremely thin and clearly malnourished, and this had been confirmed by a European Union aid team. Each orphanage had about 300 children.

Ford said he had been encouraged by an EU pledge last month to provide emergency food aid worth 10 million euros ($14.3 million) to more than half a million people at risk of dying from serious malnutrition in North Korea, and that France and Germany had since added to this, making the assistance worth 14-16 million euros ($20-$22.8 million).

But at one of the orphanages he was told they had run out of EU food in June, and the children were suffering as a result.

The European Commission said the objective of the aid package was to lift around 650,000 people, mainly in northern and eastern provinces of the country, out of the hunger zone during the most difficult period of the worst year for food production in recent times. Food assistance will reach children under five who have already been hospitalised with severe acute malnutrition. Children in residential care will also be fed, as well as pregnant and breastfeeding women, hospital patients and the elderly.

An EU mission found in June that state-distributed food rations, upon which two thirds of the North Korean population depend, had been severely cut in recent months from 400g of cereals per person per day in early April to 150g in June: less than 400kCal – a fifth of the daily average nutritional requirement and equivalent to a small bowl of rice.

Ford told NKEW in a telephone interview that while there were clear signs of widespread hunger there was no sign, so far at least, of mass starvation, as happened in the 1990s, when hundreds of thousands, possibly millions, of people died.

He also said that despite the food shortages there were also signs that economic reforms of recent years were having a strong impact, and that in all populated areas roads were lined with rows of private stalls. “These blue plastic stalls are everywhere,” Ford said, adding that they were giving rise to

“kiosk capitalists” who were bucking the traditional, Stalinist economic system.

“This is a society where there are rich North Koreans. There are new cars and expensive consumer items in the shops. There is an economic elite rather than a Party elite,” he added.

Ford also visited the Kaesong (Gaeseong) Industrial Complex just north of the Demilitarised Zone, which he said consisted of large areas of waste land where plans for expansion had come to nought due to increased tension between North and South Korea.

The complex looked “a little bit sad”, he said, and the optimism that prevailed when he last visited it two or three years had dissipated. He said the zone continued to employ about 45,000 North Koreans, little changed from his previous visit, and hopes that it would employ 400,000 by 2015 now seemed highly unrealistic. “It was new then but the shining glow has gone off a bit,” he said, adding, “I noticed the gaps between the factories more than the factories themselves.” (Ford cited a goal of 400,000 workers eventually employed in the zone, but in 2006 a target of 700,000 was mentioned on the BBC’s Newsnight programme).

The complex, in operation since 2004, has around 120 factories, all South Korean-run, processing food and assembling clothing and machinery for export to the South.

Ford also said it seemed likely that the North Korea would open an embassy to the EU in Brussels before long, with a reciprocal EU embassy in Pyongyang. Although Pyongyang and the EU established diplomatic relations in 2001, embassies have not been opened due to French resistance, as France and Estonia are the only EU countries that do not have full diplomatic ties with North Korea.

France has cited human rights violations in its refusal to open an embassy in North Korea, but it has recently softened its line and has announced plans to open a “cooperation bureau” in Pyongyang. Ford said North Korea had long wanted to set up an embassy in Brussels and this now finally seemed likely, possibly by the middle of next year.

Ford, a British Labour Party MEP until 2009, spent about 12 days in North Korea, returning last Saturday. He has almost certainly visited North Korea more often than any other western politician, having been almost 20 times over the last 15-16 years. He was a member of the European Parliament’s Korean Peninsula delegation and in 2008 has published a book, North Korea on the Brink: Struggle for Survival.

Addendum: In January 2009 Ford hosted the first ever delegation from the Workers’ Party of Korea (WPK) delegation to visit Britain, when he pressed them to agree to reopen the dialogue that was  broken off in 2005.

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KCC finding creative ways to earn hard currency

Thursday, August 4th, 2011

Pictured above (Google Earth): Korea Computer Center

According to the Associated Press (Via Washington Post):

South Korean police said Thursday they have arrested five people who allegedly collaborated with elite North Korean hackers to steal millions of dollars in points from online gaming sites.

The five, including a Chinese man, were arrested and another nine people were booked without physical detainment after they worked with North Koreans to hack South Korean gaming sites, the Seoul Metropolitan Police Agency said in a statement.

Members of the hacking ring, which included North Korea’s technological elite, worked in China and shared profits after they sold programs that allowed users to rack up points without actual play, police said.

The points were later exchanged for cash through sites where players trade items to be used for their avatars. The police said the ring made about $6 million over the last year and a half.

A police investigator, who declined to be identified because the investigation was under way, said North Korean hackers were asked to join the alleged scheme because they were deemed competent and could help skirt national legal boundaries.

The police pointed to North’s Korea Computer Center as the alleged culprit. Set up in 1990, the center has 1,200 experts developing computer software and hardware for North Korea, the police said.

The National Intelligence Service, South Korea’s spy agency, was heavily involved in the investigation, the police said. Investigators suspect the hackers’ so-called “auto programs” could be used as a conduit for North Korean cyberattacks.

South Korean authorities have accused North Korea of mounting cyberattacks in the past few years. Prosecutors said earlier this year that the North hacked into a major South Korean bank’s system and paralyzed it for days. The North is also accused of mounting attacks on U.S. and South Korean websites. Pyongyang has denied the charges.

The New York Times adds the following details:

In a little less than two years, the police said, the organizers made $6 million. They gave 55 percent of it to the hackers, who forwarded some of it to agents in Pyongyang, the capital of North Korea. “They regularly contacted North Korean agents for close consultations,” Chung Kil-hwan, a senior officer at the police agency’s International Crime Investigation Unit, said during a news briefing.

Mr. Chung said the hackers, all graduates of North Korea’s elite science universities, were dispatched from two places: the state-run Korea Computer Center in Pyongyang and the Korea Neungnado General Trading Company. The company, he said, reports to a shadowy Communist Party agency called Office 39, which gathers foreign hard currency for Mr. Kim through drug trafficking, counterfeiting, arms sales and other illicit activities.

Read the full story here:
South Korean police say they’ve cracked down on ring working with North Korean hackers
Associated Press (Via Washington Post)
2011-8-4

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Cambodia and DPRK emigration

Wednesday, August 3rd, 2011

Sebastian Strangio points out a few interesting facts in the Asia Times about DPRK defection through Cambodia:

1. The Cambodian government has quietly worked to facilitate the processing of North Koreans as they move onto South Korea.

According to the US cables, the processing of North Korean arrivals is done in a quiet, ad hoc manner. In an October 2006 dispatch (06PHNOMPENH1927), Om Yentieng, one of Prime Minister Hun Sen’s advisors, was quoted as saying that the processing of North Koreans in Cambodia was “the result of an understanding reached between the prime minister and the South Korean ambassador to Cambodia”.

Secrecy was clearly a priority for the South Koreans. In a July 2007 cable (07PHNOMPENH925) documenting a meeting between South Korean and US officials to discuss the fate of five North Korean refugees in Cambodia who were seeking resettlement in the US, the South Koreans were “preoccupied with conveying their desire that the ROK [Republic of Korea – South Korea] pipeline for North Korean refugees not be publicly revealed”. They also demanded it remain separate from Washington’s own North Korean “refugee processing pipeline”.

A dispatch from April 2008 (08PHNOMPENH316) expressed gratitude to Cambodian officials for “expeditiously processing” the exit permits of two North Korean individuals who departed for the US on April 16. American officials were also “impressed” at Cambodian immigration officials’ “discreet handling” of the cases of another group of North Koreans who departed the previous November.

“During the quiet November departure, no one at the airport noticed the North Koreans’ comings and goings,” it stated. (According to figures released by the Office of Immigration Statistics at the Department of Homeland Security in May, the US resettled more than 100 North Korean refugees between 2006 and 2010 under legislation to help improve human rights conditions in the reclusive country.)

2. Cambodia is no longer a major hub in the underground railraod.  Thailand is now the prefered destination.

It appears, however, that Cambodia has since declined in importance as a conduit for North Korean defectors in favor of a route through Laos into northern Thailand. Pastor Chun Ki-won, head of the Seoul-based refugee aid group Durihana said that Cambodia – along with Mongolia – was one of the few Asian countries willing to aid North Koreans at the start of the 2000s when refugee flows were still relatively low.

Durihana has helped around 900 North Korean defectors reach South Korea over the years. Chun’s first aid mission, which he undertook in July 2001, involved the smuggling of a North Korean woman and her child from northeast China to Phnom Penh via Vietnam. Cambodia increased in importance after December 2001, Chun said, when he was arrested in a Chinese crackdown trying to smuggle a group of refugees across the Mongolian border.

Chun said that due to increased vigilance by Vietnamese authorities, most North Korean refugees now arrive in Southeast Asia via Laos and Thailand. The claim is mirrored in figures from the Thai Immigration Bureau which reveal a 50-fold increase in North Korean arrivals from Laos, from 46 in 2004 – around the time arrivals in Cambodia seem to have begun their decline – to 2,482 in 2010. 870 North Korean refugee arrivals have already been recorded between January and April of this year.

In a 2006 cable from the US consulate in Chiang Mai (06CHIANGMAI79), one official predicted that the increase in North Korean refugee arrivals – then still fairly contained – “may yet be the tip of the iceberg”. “[E]vidence suggests that the stream of refugees is unlikely to decrease, with a network of Christian missionary organizations in Thailand and southern China cooperating to bring in more refugees through Yunnan province, Burma [Myanmar], and Laos and into Thailand’s Chiang Rai province,” the cable stated.

Read the full story here:
All aboard North Korea’s refugee railroad
Asia Times
Sebastian Strangio
2011-8-3

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DPRK citizens sue for inheritance in ROK (Part 2)

Monday, August 1st, 2011

Another North Korean is suing for an inheritance claim in South Korean courts.  According to the Joong Ang Ilbo:

A North Korean man is seeking to inherit part of the assets left behind by his father who died in the South, government and court officials here said yesterday, just weeks after a similar case ended in assets being split among family members across the two Koreas.

The man in his 50s is currently preparing to file a lawsuit with the help of an agent in China and a lawyer in South Korea, the officials said on condition of anonymity. The man’s late father reportedly left behind an inheritance worth millions of dollars.

The alleged case comes on the heels of a similar inheritance dispute that ended earlier this month after a Seoul court mediated the split of assets worth 10 billion won ($9.35 million) between South and North Korean family members of a North Korean man who died here in 1987. It was the first time North Koreans were awarded assets left by a relative in the South.

The lawyer in charge of the new case visited South Korean ministries last month to discuss the possibility of transferring assets out of the country, according to a government official.

The large amount of assets involved in the recent inheritance lawsuits has raised suspicions of the North Korean regime’s involvement, the official added.

“Judging from the recent cases, it seems like the North Koreans are filing lawsuits with detailed knowledge of their parents’ inheritance. Wouldn’t that be difficult without the [North Korean] government’s help?” the official said.

An earlier report indicated that a new South Korean law is supposed to go into effect in January 2012 which prevents inheritance claims from being sent to the DPRK without the permission of the Seoul government.  This would mean that if this case can be resolved quickly (slim chance) the funds might find their way back to the DPRK.

After January 2012, should North Koreans continue to file these cases, we can expect that Pyongyang would put them on the table in any kind of inter-Korean negotiations.  This could potentially make a few North Koreans opposed to reconciliation between the two governments since it would imply the South Koreans would release the funds to the North Korean government rather than holding them in escrow for the individuals themselves.

Read the full story here:
N. Korean man sues to get father’s inheritance
Joong Ang Ilbo
2011-8-1

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DPRK offers barter for rice deal to Cambodia

Wednesday, July 27th, 2011

Pictured above (Google Earth): Kumsong Tractor Plant (금성뜨락또르공장).  See in Google Maps here.

According to Reuters:

North Korea wants to import Cambodian rice to try to ease food shortages and has offered in return to provide machinery and expertise to develop Cambodia’s fledgling mining and energy sectors, a Cambodian official said on Wednesday.

A North Korean delegation led by Deputy Trade Minister Ri Myong-san visited Cambodia this week and the country is keen to import rice as soon as possible, said Ouch Borith, Cambodia’s secretary of state for foreign affairs.

It would help Cambodia develop its mining sector and invest in hydropower dams.

The amount of rice North Korea wanted to import was not disclosed, he said. Further specific details, such as how North Korea would fund its purchases and investments, were not available.

Cambodia is the world’s 15th biggest producer of rice and has set a target of exporting 1 million tonnes of the grain within the next four years.

According to the Economic Institute of Cambodia (EIC), an independent think tank, the country is expected to ship about 100,000 tonnes of milled rice this year, up from 50,000 tonnes in 2010. More goes to Vietnam to be milled and shipped from there.

North Korea is one of the world’s poorest countries and it rarely produces enough food to feed its 24 million people, often as a result of bad weather affecting harvests.

International sanctions over its nuclear weapons programme combined with neighbouring South Korea’s refusal to provide help have led to a substantial decline in food aid from its traditional donors.

Although Cambodia and North Korea have no trade ties, they have a diplomatic relationship. Cambodia’s former King Norodom Sihanouk has a house in North Korea and was once a special guest of the country’s late ruler, Kim Il-sung.

Ouch Borith said North Korea had offered to sell agricultural machinery to Cambodia, such as tractors, at cheaper prices than Western countries and wanted to provide expertise in developing mines.

“We have only small and medium-sized enterprises, not big industries, but Cambodia’s natural resources are huge, such as minerals, gold, iron and aluminum,” he told reporters.

“Our friends the Koreans said they would do studies and use their experience to help Cambodia make an industry from these natural resources.”

Agriculture forms the biggest part of Cambodia’s $10 billion economy, followed by tourism and garment manufacturing, but it is also trying to develop its energy and mining sectors.

Read the full story here:
N. Korea wants to buy Cambodian rice, invest in mining
Reuters
2011-7-27

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DPRK trade delegation visits Cambodia to start economic ties

Tuesday, July 26th, 2011

According to Xinhua:

A trade delegation of Democratic People’s Republic of Korea (DPRK) led by Vice Minister of Foreign Trade Ri Myong San on Tuesday started a visit in Cambodia in order to commence trade and investment ties with the country.

During a meeting with Cambodian Deputy Prime Minister Hor Namhong, who is also the Minister of Foreign Affairs and International Cooperation, on Tuesday, Ri Myong San said the visit was to find possibility to start economic relations with Cambodia, especially on the development of agriculture, trade and investment.

Meanwhile, Hor Namhong said that Cambodia welcomed DPRK in starting trade ties with Cambodia for mutual interests of the two peoples.

Ouch Borith, a secretary of state for the Ministry of Foreign Affairs and International Cooperation, told reporters after the meeting that the DPRK delegation would hold the first-ever Cambodia and DPRK Joint Committee meeting on July 27 in order to discuss and explore trade and investment opportunities between the two nations.

“It will be the first meeting since the two countries signed the agreement in 1993 to establish the Cambodia-DPRK Joint Committee,” he said. “So far, the trade exchange between Cambodia and DPRK is zero.”

According to the trade statistics from the Ministry of Commerce, there is no any record of trade transaction between the two countries.

On the investment side, earlier this year, the DPRK’s Mansudae New Tech Corporation has invested 17 million U.S. dollars to build an e-museum in Siem Reap province, according to the figure from the Council for the Development of Cambodia.

The DPRK delegation arrived here on Monday and will leave here on Thursday.

Read the full story here:
DPRK trade delegation visits Cambodia to start economic ties
Xinhua
2011-7-26

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