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.
A confectionery production line (Illustrative photo: VNA)Hanoi (VNA) – 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.
Do Quoc Hung, Deputy Head of the ministry’s Asia-Africa Market Department, further suggested the two countries’ enterprises actively participate in trade promotion activities and fairs in each country to foster their imports and exports that are not banned following the United Nations Security Council’s resolutions.
According to the ministry, before 2010, Vietnam mainly bartered with the DPRK. Since 2011, the country has not imported goods from the DPRK, but mainly exported pharmaceutical products, plant oil, consumer products and confectionery to the East Asian nation.
After making a record high in 2012 with 15 million USD, two-way trade decreased to 7.3 million USD in 2017 and 579,000 USD last year.-VNA
Do Quoc Hung, Deputy Head of the ministry’s Asia-Africa Market Department, further suggested the two countries’ enterprises actively participate in trade promotion activities and fairs in each country to foster their imports and exports that are not banned following the United Nations Security Council’s resolutions.
According to the ministry, before 2010, Vietnam mainly bartered with the DPRK. Since 2011, the country has not imported goods from the DPRK, but mainly exported pharmaceutical products, plant oil, consumer products and confectionery to the East Asian nation.
After making a record high in 2012 with 15 million USD, two-way trade decreased to 7.3 million USD in 2017 and 579,000 USD last year.-VNA
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