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China-DPRK Joint Steering Committee of Economic Zones Held Third Meeting in Beijing

The Third Meeting of the Joint Steering Committee for Developing China-DPRK Two Economic Zones was Held in Beijing on August 14. The two economic zones, Rason Economic and Trade Zone and the Hwanggumphyong and Wihwa Islands Economic Zone (the two economic zones as shorted below), were jointly developed and managed by China and DPRK. 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. Responsible officials from member units of the Joint Steering Committee attended the meeting.

The two sides agreed that with the joint efforts by the two Governments and enterprisesof the two countries, the cooperation in developing the two economic zones has yielded impressive results and entered the stage of substantial development. The two sides have jointly done the planning that will contribute to new progress in establishing mechanisms, training personnel, compiling detailed plans, laws and regulations, making customs clearance convenient, establishing telecom links, cooperating in agriculture fields, as well as building projects. Government of DPRK has done revision of Law of Rason Economic and Trade Zone, and formulated Law of the Hwanggumphyong and Wihwa Islands Economic Zone.

The two sides stressed that to continue to actively and steadily push forward the cooperation in the development of the two economic zones is of great significance to further consolidate and develop China-DPRK traditional friendly cooperative relations, drive up exchanges and cooperation in various fields, promote economic development regional stability and prosperity between the two countries, which is in line with the common interests of people of both two countries. The two sides will continue to earnestly implement the consensus reached by the leaders of the two countries, abide by the principle of development cooperation, which is led by the Governments, based on enterprises, and to achieve mutual benefit and win-win through market operation, make joint efforts and give a full play to each own advantages, speed up infrastructure in the two economic zones, attract more enterprises to invest in the zones, and build the two economic zones into China-DPRK demonstrated zone of economic and trade cooperation and platforms for economic and trade cooperation worldwide.

The two sides announced in the meeting the establishment of the Management Committee of Rason Economic and Trade Zone and the Management Committee of the Hwanggumphyong and Wihwa Islands Economic Zone, and signed agreements on the establishment and operation of the Management Committee, economic and technical cooperation, agricultural cooperation, and power transmission, park construction and detailed planning in Rason Economic and Trade Zone.

The Rason Economic and Trade Zone is in northeastern DPRK, which is adjacent to Yanbian of China's Jilin province. The Rason Economic and Trade Zone will focus on developing the industry of raw materials, industrial equipment, high-tech industry, light industry, service industry, modern and efficient agriculture, and will gradually be built into a advanced manufacturing base in Korea, an international logistics center of Northeast Asia as well as regional tourist center. The Hwanggumphyong and Wihwa Islands Economic Zone is near the estuary of the Yalu River and adjacent to Dandong of China’s Liaoning province. The Hwanggumphyong and Wihwa Islands Economic Zone will focus on developing Information industry, tourism, cultural and creative industries, modern agriculture, and garment processing industry, and will be built into intelligence-intensive emerging economic zone step by step.

(All information published on this website is authentic in Chinese. English is provided for reference only.)