China, DPRK meet for developing economic zones

BEIJING - China and the Democratic People's Republic of Korea (DPRK) held a third meeting in Beijing Tuesday on developing two economic zones in the DPRK, China's Ministry of Commerce (MoC) announced.

Chinese and DPRK officials attended the meeting of the joint steering committee for developing and managing the Rason Economic and Trade Zone and the Hwanggumphyong and Wihwa Islands Economic Zone, according to the ministry.

"Both sides reached the consensus that the co-operation in developing the two economic zones has yielded impressive results and entered the stage of substantial development," the MoC said.

The two sides have jointly compiled related plans that will contribute to progress in establishing mechanisms, training personnel, compiling detailed plans, laws, and regulations, facilitating customs clearance, establishing telecom links, co-operating in agriculture fields, as well as building projects, according to the ministry.

The DPRK has amended the law for the Rason Economic and Trade Zone, and made law for the Hwanggumphyong and Wihwa Islands Economic Zone.

"The two sides stress that further promoting the co-operation in developing the two economic zones actively will play a significant role in consolidating the traditional friendly and co-operative relations, reinforcing exchanges in other fields, boosting economic growth of both sides and enhancing regional stability and prosperity," the ministry said.

The two sides will continue to follow the principle of "government-guided, enterprise-based, market-oriented, mutually beneficial" co-operation in developing the economic zones.

They signed agreements on subjects including operations of the committees, economic and technological co-operation, agricultural co-operation, electricity supply for the Rason zone, zone construction and detailed planning.

The Rason Economic and Trade Zone is in northeastern DPRK's city of Rason, which is adjacent to Yanbian Prefecture in northeast China's Jilin Province.

The Rason zone will "focus on the development of raw material, equipment, high technology industries, light industry, service sector and modern efficient agriculture."

It will gradually become the DPRK's advanced manufacturing base, as well as a international logistics center and regional tourism center of northeast Asia.

The Hwanggumphyong and Wihwa Islands Economic Zone is near the estuary of the Yalu River, a border river that runs between the two countries.

The zone will focus on the development of information industry, tourism culture innovation sector, modern agriculture and garment making to gradually become the DPRK's new economic zone of intensive intelligence, the ministry added.

The meeting was jointly presided over by Chinese Minister of Commerce Chen Deming and Jang Song Taek, chief of the central administrative department of the Korean Workers' Party.

The joint steering committee held its first meeting in November 2010 and the second meeting in June 2011.