Trade with N. Korea soars 87%
Source: Agencies |
October 24, 2011, Monday
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Print Edition
Print Edition
CHINA'S trade with North Korea nearly doubled in the first seven months of the year compared with the same period in 2010.
The 87 percent increase to US$3.1 billion was announced yesterday at the start of a visit to North Korea by Chinese Vice Premier Li Keqiang that reaffirms strong ties between the neighbors.
In a written statement released upon his arrival in Pyongyang, Li said China is ready to work with North Korea to continue to deepen exchanges and cooperation in various fields to bring more benefits to the two peoples.
"I'm confident that this visit will enhance political trust between China and North Korea and deepen practical trade and economic cooperation," Liu said. "There is a bright outlook for friendly cooperation between the two countries."
Li said China hopes for better relations between North and South Korea and a resumption of long-stalled six-nation nuclear disarmament talks.
China wants to work with all parties in promoting the denuclearization of the Korean Peninsula and safeguarding regional peace and development, Li's statement said.
North Korea relies heavily on China for food and fuel aid and many consumer products. Chinese companies are the main investors in North Korean mining, and the sides recently signed agreements on road building and jointly developing an industrial park on an island near the Chinese city of Dandong.
"The economic and trade cooperation between the two countries has shown great potential, with bilateral trade and investment volume reaching new highs," said Chinese ambassador to North Korea Liu Hongcai.
Bilateral trade between China and North Korea still is dwarfed by economic ties between China and South Korea. China is South Korea's largest trade partner.
Trade between China and South Korea rose more than 20 percent in the first eight months of the year to US$159 billion and is expected to hit about US$250 billion for all of 2011.
Li will visit North Korea for three days and then will go to South Korea for two days of visits on Wednesday and Thursday.
The 87 percent increase to US$3.1 billion was announced yesterday at the start of a visit to North Korea by Chinese Vice Premier Li Keqiang that reaffirms strong ties between the neighbors.
In a written statement released upon his arrival in Pyongyang, Li said China is ready to work with North Korea to continue to deepen exchanges and cooperation in various fields to bring more benefits to the two peoples.
"I'm confident that this visit will enhance political trust between China and North Korea and deepen practical trade and economic cooperation," Liu said. "There is a bright outlook for friendly cooperation between the two countries."
Li said China hopes for better relations between North and South Korea and a resumption of long-stalled six-nation nuclear disarmament talks.
China wants to work with all parties in promoting the denuclearization of the Korean Peninsula and safeguarding regional peace and development, Li's statement said.
North Korea relies heavily on China for food and fuel aid and many consumer products. Chinese companies are the main investors in North Korean mining, and the sides recently signed agreements on road building and jointly developing an industrial park on an island near the Chinese city of Dandong.
"The economic and trade cooperation between the two countries has shown great potential, with bilateral trade and investment volume reaching new highs," said Chinese ambassador to North Korea Liu Hongcai.
Bilateral trade between China and North Korea still is dwarfed by economic ties between China and South Korea. China is South Korea's largest trade partner.
Trade between China and South Korea rose more than 20 percent in the first eight months of the year to US$159 billion and is expected to hit about US$250 billion for all of 2011.
Li will visit North Korea for three days and then will go to South Korea for two days of visits on Wednesday and Thursday.
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