Vietnam, DPRK to boost economic cooperation

Vietnam and the Democratic People's Republic of Korea (DPRK) could strengthen their economic cooperation by maintaining political, diplomatic, and people-to-people exchanges, said Do Quoc Hung, Deputy Head of the Ministry of Industry and Trade's Asia-Africa Market Department.

According to Mr. Hung, Vietnam and DPRK need to enhance their information sharing, economic management rules, import-export, investment, and sharing experience in managing socio-economic development.

Mr. Hung added Vietnam and DPRK businesses can participate in trade promotion activities to boost the import-export of goods which are not on the lists of prohibited items under UN Security Council sanctions. Since 2011, Vietnam has mainly exported to the DPRK necessities like chemical and pharmaceutical products, vegetable oil, and consumer goods. Vietnam's exports to the DPRK totaled 7.3 million USD in 2017, and 580 thousand USD in 2018.

Source: VOV5