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Russia and the DPRK plan to increase mutual trade to 1 billion dollars to 2020 year - Galushka

Head of the Ministry of Eastern and Eastern Development Alexander Galushka held a plenary session of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation between the Russian Federation and the DPRK in Vladivostok. Following the event, the parties signed the Protocol of the 6 meeting of the Commission, which included priority areas for joint work.

Galushka said that Russia and the DPRK set an ambitious task to increase trade between the countries to 1 billion dollars by the 2020 year (according to the results of 2013, the volume reached 112,7 million dollars). To achieve this goal, the system of mutual settlements will be changed - the parties will switch to payments in Russian rubles by the end of June.

In addition, North Korea will simplify the visa regime for Russian investors and employees of Russian companies operating in the DPRK. 

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