ID :
203403
Thu, 08/25/2011 - 07:25
Auther :
Shortlink :
https://oananews.org//node/203403
The shortlink copeid
First-ever International Trade Fair Held in Rason City
SEOUL (Yonhap)-- The first Rason International Trade Fair opened on Aug. 22 in Rason City in a bid to attract foreign investments, the North's media said.
The fair, scheduled to run until Aug. 25, "offers a glimpse of the bright prospect of international economic cooperation and trade through Rason," the KCNA said the same day.
Rason City is an economic trade zone in the northeastern part of North Korea bordering China and Russia.
According to the North's news media, the fair was attended by about 110 companies from Russia, China, the United States, Italy, Taiwan and Australia.
The participating companies will exhibit machines, electronic goods, vehicles and other products during the fair, the KCNA said.
One day later, a seminar was held in Rason City to attract foreign investments. Screens at the seminar displayed the Rason economic and trade zone law and management regulations for foreign participants on the sidelines of the exhibition, the North's news outlet said.
"The economic and tourist infrastructure construction has made headway in the zone, providing conditions favorable for foreign businesses' investment, production and trade," the KCNA quoted Ri Ju-il, director of the Economic Cooperation Department of the Rason City People's Committee, as saying. "We will invigorate many-sided contacts and transactions with foreign businesses to achieve the development and prosperity of the Rason Economic and Trade Zone."
According to reports released by the KCNA, North Korea has adopted "a preferential tariff system" for foreign investors and traders for the project and has planned to upgrade three ports in Rason such as Rajin, Sonbong and Ungsang.
North Korea also plans to raise the traffic capacity of ports and roads, replacing the existing railways with modern and high-speed ones.
Rason City was designated as a special city after North Korean leader Kim Jong-il visited the city in December 2009 for the first time since it was named a free trade zone in December 1991.
The fair, scheduled to run until Aug. 25, "offers a glimpse of the bright prospect of international economic cooperation and trade through Rason," the KCNA said the same day.
Rason City is an economic trade zone in the northeastern part of North Korea bordering China and Russia.
According to the North's news media, the fair was attended by about 110 companies from Russia, China, the United States, Italy, Taiwan and Australia.
The participating companies will exhibit machines, electronic goods, vehicles and other products during the fair, the KCNA said.
One day later, a seminar was held in Rason City to attract foreign investments. Screens at the seminar displayed the Rason economic and trade zone law and management regulations for foreign participants on the sidelines of the exhibition, the North's news outlet said.
"The economic and tourist infrastructure construction has made headway in the zone, providing conditions favorable for foreign businesses' investment, production and trade," the KCNA quoted Ri Ju-il, director of the Economic Cooperation Department of the Rason City People's Committee, as saying. "We will invigorate many-sided contacts and transactions with foreign businesses to achieve the development and prosperity of the Rason Economic and Trade Zone."
According to reports released by the KCNA, North Korea has adopted "a preferential tariff system" for foreign investors and traders for the project and has planned to upgrade three ports in Rason such as Rajin, Sonbong and Ungsang.
North Korea also plans to raise the traffic capacity of ports and roads, replacing the existing railways with modern and high-speed ones.
Rason City was designated as a special city after North Korean leader Kim Jong-il visited the city in December 2009 for the first time since it was named a free trade zone in December 1991.
