June 21, 2013

North Korea may invest US$1 million in Russia's Primorsky territory agriculture

The Democratic People's Republic of Korea plans to invest US$1 million in Russia's Primorsky /Maritime/ territory's agriculture sector, in particular in the processing of coy and corn.

Also, the North Korean side is interested in the setting up of joint cattle farms, North Korea's Consul General in Vladivostok Rim Chun Il said Thursday at a meeting with the regional Governor, Vladimir Miklushevsky.

Miklushevsky, on his part, stressed the importance of educational and cultural exchanges between the Democratic People's Republic of Korea (DPRK) and his country, since "the more we know about each other, the bigger the opportunities for cooperation in various fields."

An authoritative delegation of the DPRK Chamber of Commerce and Industry led by the chief of the international relations directorate arrived in the Primorsky territory. The itinerary of the trip includes talks with executives of local small and medium-sized businesses. In part, the delegation members are interested in supplies of foodstuffs from the Primorsky territory to North Korea, as well as in a joint production of fish flour and electric current transformers, in the leasing of locomotives and luggage coaches, and the purchases of an oil tanker. .

This is the first time a delegation of the type is visiting Vladivostok. In spite of the geographic closeness of the Primorsky territory and the DPRK, trade and economic relations between them are still insignificant. The North Korean delegation will stay here through to June 23.