International exhibition held in North Korea's Rason economic zone

26/8 Tass 75

PYONGYANG, August 26 (Itar-Tass) - Products of 110 companies,
including from foreign countries, were demonstrated at the first
international trade fair in the Rason Economic and Trade Zone in North
Korea.
Delegations from Russia, China, Australia, Italy, the United States
and Taiwan took part, presenting production of the electronics,
pharmaceutical, light and car industries, as well as foodstuffs and
household appliances.
At the closing ceremony on Thursday, the chairman of the Rason city
people's committee said the exhibition had been held "owing to joint
efforts of the governments, companies and trade firms of several
countries," the Korean Central News Agency reports.
According to him, entrepreneurs got an opportunity "to establish
useful contacts for their commercial and trade activity, scientific and
technological exchanges".
The North Korean government has paid much attention to that zone of
late, expecting to make it a leading trade centre for the whole Northeast
Asia. Rason is situated in the northeast of North Korea and borders on the
Chinese Jilin Province and Russia's Primorye.
A special economic zone was set up there in 1991. After that, the
North Korean leadership began actively attracting foreign companies,
including from China, Russia and South Korea. The abolishment of customs
duties for them in that zone was one of the measures.
The KCNA stresses that cooperation with Russia is important for the
development of Rason. In October 2008, Russia and North Korea signed an
agreement on cooperation, which plans the joint implementation of the
Khasan-Rajin project, which includes reconstruction of a 52-kilometer-long
section of the railway, the construction of a container terminal at the
port of Rajin. Rajin is the main port of the Rason economic zone.
Experts believe that in the future the trade and economic zone will be
able to ensure lasting ties in that sphere not only between North Korea,
China and Russia, but will also connect Northeast Asia with Europe.
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