Politics

Vietnam, DPRK advised to foster economic cooperation

Vietnam and the Democratic People’s Republic of Korea (DPRK) should maintain exchanges through political and diplomatic channels and step up the sharing of information on policies and regulations related to import-export and investment so as to boost bilateral economic and trade ties, according to an official from the Ministry of Industry and Trade.
Vietnam, DPRK advised to foster economic cooperation ảnh 1A confectionery production line (Illustrative photo: VNA)
Hanoi (VNA) – Vietnam and the Democratic People’s Republic ofKorea (DPRK) should maintain exchanges through political and diplomatic channelsand step up the sharing of information on policies and regulations related toimport-export and investment so as to boost bilateral economic and trade ties,according to an official from the Ministry of Industry and Trade.

Do Quoc Hung, DeputyHead of the ministry’s Asia-Africa Market Department, further suggested the twocountries’ enterprises actively participate in trade promotion activities andfairs in each country to foster their imports and exports that are not bannedfollowing the United Nations Security Council’s resolutions.

According to theministry, before 2010, Vietnam mainly bartered with the DPRK. Since 2011, thecountry has not imported goods from the DPRK, but mainly exportedpharmaceutical products, plant oil, consumer products and confectionery to theEast Asian nation.

After making a recordhigh in 2012 with 15 million USD, two-way trade decreased to 7.3 million USD in2017 and 579,000 USD last year.-VNA
VNA
#Vietnam-Democratic People’s Republic of Korea (DPRK) ties#economic cooperation#political and diplomatic channels#Ministry of Industry and Trade#vietnamplus#Vietnam News Agency
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