N. Korea, China discuss enterprise zones

Aug. 14, 2012 at 10:20 AM

BEIJING, Aug. 14 (UPI) -- Development of two economic zones in North Korea was discussed Tuesday when North Korean and Chinese officials met in Beijing, Chinese officials said.

China's Commerce Ministry said Chinese and North Korean members of the joint steering committee met to discuss developing and managing the Rason Economic and Trade Zone and the Hwanggumphyong and Wihwa Islands Economic Zone, China's state-run Xinhua news agency reported.

"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 ministry said.

The two countries compiled plans that will help advance the development of the two enterprise zones and signed agreements on operations of the committees; economic, agricultural and technological cooperation; and zone construction, among other things.

The Rason zone will center on development of raw material, equipment, high-tech and light industries, service sector and agriculture, the Chinese ministry said. The Hwanggumphyong and Wihwa Islands zone will focus on development of information industry, tourism, sector, agriculture and garment-making.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
B-52 bombers demo long reach of U.S. air power
Army orders tactical trucks from Oshkosh
Reddit CEO Ellen Pao offers to improve communication in wake of firing scandal
Report: Brazil's Petrobras wading dark waters
Oil markets hammered by Greece, Iran and China