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Wednesday, 22 May 2013

China, North Korea step up trade zone cooperation

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Reported by: AP/UNB Connect
Reported on: August 15, 2012 09:54 AM
Reported in: Business
News - China, North Korea step up trade zone cooperation
BEIJING, Aug 15 (AP/UNB) - Chinese state media say Beijing and Pyongyang have agreed to accelerate their joint development of two trade zones in North Korea.

The China Daily newspaper says Kim Jong Un's powerful uncle Jang Song Thaek formalized the agreements Tuesday in meetings with China's Ministry of Commerce.

Jang is a vice chairman of the powerful National Defense Commission. He is seen as a leading economic policy official.

The paper says Jang's six-day visit could be a prelude to a visit by Kim.

North Korea has lagged far behind the rest of Northeast Asia economically, and much of the nation is impoverished outside the capital Pyongyang.

A separate China Daily editorial said the projects would help North Korea's battered economy and improve stability on the Korean peninsula.
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