North Korea Signs Economic Deal With China

The slow motion integration of North Korea into China continues:

Pyongyang and Beijing reached a consensus to launch full-fledged development in joint economic zones, viewed as an attempt at a market economy in that specific region.

The North?s official Korean Central News Agency yesterday reported the result of the so-called ?meeting of the DPRK-China cooperation committee for the third joint development of Hwanggumpyong and Rason districts,? where Jang Song-thaek, uncle of North Korean leader Kim Jong-un, attended with his counterpart Chen Deming of the Ministry of Commerce and other Chinese government officials.

There, the KCNA said that both sides signed a deal called ?Comprehensive Plan for Rason Economic Zone,? a joint enterprise zone near the border of the two countries in which they will carry out full-scale construction for a harbor and railroads.

Once construction is completed, they will launch operation committees for various businesses, such as tourism and agriculture. A project for directing electricity from China to the region has already been prepared, state media reported. ? [Joong Ang Ilbo]

You can read more at the link.

Source: http://feedproxy.google.com/~r/RokDrop/~3/-DnvetpSfZk/

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