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From 20 on 24 October, the Russian delegation will visit the DPRK with a business mission - Alexander Galushka

1 October in Moscow, a meeting of the Foreign Ministers of the Russian Federation and the DPRK Sergey Lavrov and Li Su Yong, as well as high-ranking officials of the two countries.

The head of the Korean Foreign Ministry was not in Russia for four years (the visit of the predecessor of the current minister is dated 12-15 December 2010). Meanwhile, many issues have accumulated in the relations between the two countries, which require an operative solution. For example, it is necessary to accelerate the implementation of major investment projects and bring the commodity turnover between the Russian Federation and the DPRK to an indicative figure of 1 billion.

That is why the distinguished guest from North Korea did not limit himself to purely diplomatic contacts - the program of his visit also included a meeting with Deputy Prime Minister, Plenipotentiary of the President of Russia in the Far Eastern Federal District, Yuri Trutnev, and Minister for the Development of the Far East, Alexander Galushka. During these conversations, they spoke, in particular, about the functioning of the intermodal transshipment complex in the port of Rajin, as well as new programs implemented according to the formula "Russian equipment and investments in exchange for Korean mineral raw materials."

"I am confident that our current meeting will be a worthy continuation of positive trends in Russian-Korean cooperation, against which our countries successfully solve many problems that hampered until recently the development of trade and economic cooperation," said the head of the Ministry for the Development of the Far East, Alexander Galushka. In his opinion, contacts between the Russian Federation and the DPRK promise to be long-term and fruitful, because they contain "deep strategic subtext" and equally strong traditions. 17 March 2014 year was 65 years since the signing of the first joint document between Moscow and Pyongyang - the Treaty on Economic and Cultural Cooperation. The line, outlined in it, continues and the documents adopted at bilateral summits in 2002 and 2011.

Alexander Galushka referred to his personal experience in leading the Russian part of the intergovernmental commission on trade, economic and technical cooperation with North Korea and noted that the agreements reached are being implemented, the regular exchange of information between the parties continues. This year, the problem of Pyongyang’s 10 billionth debt to the Russian Federation has been settled. 5 May 2014 ratified the agreement between the governments of the Russian Federation and the DPRK on the settlement of this debt remaining on the loan provided in the period of the former USSR.

Minister Galushka is sure: the planned turnover of 1 billion dollars will allow the realization of a number of joint economic projects in which companies such as Russian Railways, Mostovik, Northern Mine, Basic Element, Altai Mills, Pharmsynthez " other. So, for example, the company RusHydro is interested in the implementation of power grid projects in the Korean Peninsula. According to the Ministry of Economic Development, the economic potential of these projects far exceeds the billion mark-point of reference set for trade. There is also preparation for the implementation of investment projects of the Russian side in the DPRK.

The intensification of economic contacts, the minister noted, is accompanied by significant organizational shifts for the better. “We positively appreciate the first fact of issuing multiple and long-term visas to Russian citizens working in companies investing in the DPRK, which happened during this time,” said the head of the Ministry of Eastern and European Development. He positively assessed that an agreement was reached between the Russian and Korean organizations and a contractual basis was created for the transition to mutual settlements in rubles. The corresponding agreement on the opening of correspondent accounts has already been signed between the Joint-Stock Commercial Bank "Regional Development Bank", the DPRK Foreign Trade Bank and the Korean Bank for Unification and Development.

According to the minister, "the sides have reached an understanding" of the possible internationalization of the Kesson industrial zone in South Korea, the main source of foreign exchange in the DPRK and the arrival of Russian investors in the newly created Chongjin economic development zone in the north-east of this country (for the first time its formation was announced in 1991, now back to the project).

From 20 to 24 October, the Russian delegation will visit the DPRK with a business mission, said Alexander Galushka. Trilateral infrastructure projects will be a priority in trade and economic cooperation. Today, Galushka explained, several models for the implementation of investment projects are being considered in the energy sector alone. "The first option is Russian investments in exchange for access to natural resources. The second option is to pay off the rest of the DPRK's debt to Russia - this is $ 1 billion. The third option is within the funds allocated for combating the greenhouse effect, taking into account that that the power plants in the DPRK are old, outdated. A combination of these three sources is also being considered, "the minister explained. The DPRK, according to him, also showed interest in implementing projects in the field of agriculture in the Russian Far East with the involvement of Middle Eastern investors.

When asked by the East Russia correspondent about how much the DPRK is ready to invest in projects on the territory of the Russian Federation, the minister noted that “we haven’t heard any concrete proposals from them yet, but we have heard about potential interest, and that they have worked out the issue of lending from one from Middle Eastern countries. Using practical examples, we explained how interaction is actually built, how we work with Russian, South Korean and Japanese investors. We are ready to work with the DPRK in such a way, "concluded Alexander Galushka.

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