The Russia-North Korea Business Council founded in January will hold its inaugural meeting in February, during a visit of North Korean Foreign Trade Minister Ri Ryong Nam to Moscow, the Russian Far Eastern Development Ministry said in a press release seen by Interfax.
The Business Council is tasked to help Russian and North Korean businessmen and organizations in the search for business partners and the effective development of bilateral trade and economic relations, it said.
"The establishment of this body was suggested by Far Eastern Development Minister, Russian Co-Chair of the Russian-North Korean Intergovernmental Commission for Trade, Economic, Scientific and Technological Cooperation Alexander Galushka and supported by the Chamber of Commerce and Industry of Russia, the Russian Foreign Ministry, the Russian Embassy in the Democratic People's Republic of Korea and the Russian Economic Development Ministry," the report said.
All-Russia Business Association Delovaya Rossiya Vice-President, Espro Group Board of Directors Chairman Vitaly Survillo was elected as the Business Council Chairman.
The intergovernmental commission has made impressive progress in the resolution of complicated bilateral issues, the report said. For instance, North Korea has started to issue multi-entry visas to Russian citizens, first ruble settlements have been done and negotiations are underway on the establishment of a North Korean government agency for joint projects with Russia.
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