Russia, North Korea to set up bilateral business council

Russia and North Korea may set up a business council by the end of January for the promotion of joint projects and interaction between their business communities, Russian Chamber of Commerce and Industry (CCI) Vice-President Vladimir Strashko said at a Moscow conference chaired by Far East Development Minister Alexander Galushka.

Russia and North Korea may set up a business council by the end of January for the promotion of joint projects and interaction between their business communities, Russian Chamber of Commerce and Industry (CCI) Vice-President Vladimir Strashko said at a Moscow conference chaired by Far East Development Minister Alexander Galushka.

A ministry press release seen by Interfax on Thursday said the conference was attended by workers of the Russian Foreign and Economic Development Ministries and executives of Russian companies who are either doing business in North Korea or intend to do so.

Galushka introduced new Russian Ambassador to North Korea Alexander Mantsegora to the audience.

"The year 2014 was busy but, in fact, it was only a preparatory stage. It is important that we shift to the stage of practical implementation of previous agreements," the press release quoted Galushka as saying.

It was said at the conference that "results had been achieved in extremely complicated bilateral issues."

For instance, North Korea has begun to issue multi-entry visas to Russian citizens, first ruble settlements have been done and negotiations are underway on the North Korean government's formation of a special body to supervise joint projects with Russia.

Corporate executives spoke about problems they had to resolve in their activity in North Korea. The Far East development minister and the Russian ambassador in Pyongyang assured them of being ready to give comprehensive assistance.

"Every Russian project in North Korea will be subject to daily control. Any assistance required from the embassy will be given," Mantsegora assured the conference participants.

 

Read more: North Korea might start exporting coal for metallurgy in 2015 with Russian help>>>

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