MAKS-2017 airshow yields contracts to over $6bln - Russian ministry of industry and tradeBusiness & Economy July 23, 23:48
Russian consumer rights watchdog chief names cities with highest HIV ratesSociety & Culture July 23, 21:41
Serbian filmmaker Kustirica says Crimea’s reunification with Russia is natural processSociety & Culture July 23, 21:40
Israeli embassy in Amman attacked by terrorists, some people wounded - TVWorld July 23, 21:35
Boxing Day on Red Square sets new Guinness recordSport July 23, 8:33
Joseph Dunford says Russia most military capable country of those posing threat to USWorld July 23, 4:57
Russia’s US envoy Kislyak steps down, his deputy to act as Charg d'Affaires ad interimRussian Politics & Diplomacy July 23, 1:33
Putin greets KamAZ-Master team - winner of Silk Way RallySport July 22, 15:20
Agreements on East Ghouta zone in Syria signed - Defense MinistryWorld July 22, 14:20
MOSCOW, October 2. /TASS/. Russia and North Korea have first concrete results in their trade and economic relations — for the first time, multiple entry visas are granted to Russians who work in companies investing in North Korea, and it is possible to switch to payments in rubles beginning September 9, the Russian Minister for Far Eastern Development, Alexander Galushka, told TASS, commenting on the results of talks with North Korean Foreign Minister Ri Su-yong.
“Russian investors are ready to come to North Korea. We are preparing the first substantial business mission that will set out for North Korea late this month,” the minister said. North Korean colleagues are interested in Russian participation in the modernization of North Korea’s electric power engineering sector, he said.
Three possible ways of investment were discussed, the minister said. The first — Russian investments in exchange for access to natural resources. The second — as repayment of North Korea’s debt. Russia has written off $9 billion, and $1 billion remains. It may be spent as Russian investments in the electric power engineering modernization. The third — to use funds earmarked to reduce greenhouse gases effect (taking into account that there are old and environmentally harmful electric power plants).
Speaking about the agrarian sector, the Russian minister said possible loans for North Korea were under consideration. He said Russian, Japanese and South Korean companies expressed interest in agricultural projects in the Far East. At the same time, North Korea has not presented concrete projects or proposals so far, he added.
When asked about joint projects between Russian, North Korean and South Korea, Galushka said it was a priority and Russia was interested in it. “We discussed further prospects to implement the railway project. The rail road has already reached Rajin. South Korea also has interest in it,” he said. Russia’s RusHydro company also considered a tripartite project, he added. “We have agreed that during my visit to North Korea in late October, we will consider all the issues for practical implementation,” the minister said.