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DPRK Trade House to Open in September in Primorye at VEF-2018 - EastRussia | Far East

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The DPRK trading house is planned to open in September in Primorye on VEF-2018

The North Korean trading house in the Far East is planned to be opened at the 4th Eastern Economic Forum (VEF-2018), the press service of the Ministry of Veterinary and Trade reported on the results of the discussion of the concept of the trading platform at the meeting of Deputy Minister Alexander Krutikov and Deputy Foreign Minister of the DPRK Lee Gwang Gyn.

The representative of the Democratic People's Republic of Korea, Li Guang Gyun, said at the meeting that it was necessary to discuss the operating regime of the facility, the possibility of receiving customs duties. He noted that the Korean side transferred to Minskvokrazvitiya a list of export goods, which are being prepared for sale - foodstuffs, construction materials, medicines and medical equipment, perfumes, garments, electronics, engineering products, clothes, art crafts. "The idea of ​​the Korean side to announce the opening of the Trade House at the WEF is correct, we support it. In the very near future we will give suggestions on how to organize this Trade House. At the suggestion of the Korean side, we will hold consultations with the chairman of the Association of Korean Organizations of the Primorsky Territory Valentin Pak. I do not exclude that we will have to conclude an intergovernmental agreement to support this project, "the commentary of Mr. Krutikov is reproduced in the message. Proceeding from the commodity items submitted by the North Korean side, the preliminary concept of the Trading House as an enterprise for the marketing and wholesale supply of goods and services of a domestic and humanitarian nature has been formed. It is planned that once a year the Trade House will hold a national exhibition of goods and services from the DPRK, similar to an exhibition held in the Expocenter by Iran, a number of provinces of the PRC, the Union of Household Goods Producers of the PRC.

The trading house is proposed to be set up on the territory of the Free Port of Vladivostok. The project will be supported by the Agency of the Far East on attraction of investments and export support (IPA). "Within the framework of the project, three offices will be formed. The headquarters and head office will be located in Vladivostok. Two branches will be located in Moscow and Pyongyang, "the press office explains the investment director of the IPA, Vasily Grudev.

The parties also discussed possible participation in the establishment of the South Korea Trade House, up to joining the capital of the South Korean company - at the discretion of the North Korean side. As a result, we agreed to create a working group for further work on the issues, which will include representatives of the DPRK, Minskostokrazvitiya and the administration of Primorsky Krai.

VEF-2018 will be held 11-13 September in Vladivostok. Minvostokrazvitiya expects the conclusion of a forum of investment agreements for 3,5 trillion rubles. Last year more than 2017 thousand representatives of more than 6 countries took part in VEF-60, including 103 heads of foreign companies, 10 foreign ministers, heads of diplomatic corps of 10 states. Within the framework of the forum, 217 agreements worth 2,496 trillion rubles were signed.