PYONGYANG, August 12 (Itar-Tass) - Seven countries will participate in the third international trade exhibition in the Rason trade-economic zone in the northern DPRK on August 19-23.
Besides the hosting country, Russia, Australia, Germany, China, Taiwan and Japan will present their products. The exposition will include samples of the electronic, pharmaceutical, light and car making industries, as well as food products and modern house appliances.
The local media reports on Monday that the exhibition “will favour regional development of cooperation in the economy, trade, sciences and technologies.” Foreign businesses will participate in a symposium on the DPRK’s investment policies.
The Rason trade-economic zone was organised in 1991. The country is attracting actively foreign companies to working in the zone. One of the advantages of working there is that foreign companies do not pay income taxes or customs duties.
Rason (abbreviated from Rajin-Sonbong) is in the country’s north-east and borders China and Russia’s Maritime territory. In April, 2008 Russia and North Korea signed an agreement on the Rajin-Sonbong joint project, which includes reconstruction of a railway passage of 54 kilometres long, which is almost ready now, and a construction of a Russian cargo terminal in Rajin - the zone’s major port - and further use of the port’s infrastructures.