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Eastern Economic Forum to take place on Russky Island on September 3-5

August 23, 2015, 7:56 UTC+3 VLADIVOSTOK

There is also an opportunity to increase the turnover to 5 million tonnes a year

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VLADIVOSTOK, August 23 /TASS/. The Eastern Economic Forum that will take place on Russky Island on September 3-5 will discuss trilateral transport and energy cooperation on the Korean peninsula, the press service of the Russian Ministry for Development of the Far East, said. The Hasan-Rajin transport and logistics project and electric energy supplies from the Primorye region in Russia to the Rason Special Economic Zone in North Korea will be part of the agenda.

"The delegations of the Democratic People’s Republic of Korea (DPRK), Russia and the Republic of Korea will hold trilateral talks at the Eastern Economic Forum to discuss trilateral cooperation projects on the Korean peninsula," the press service said noting that North Korean Minister of Foreign Trade Mr. Lee Ren Nam will lead his country’s delegation to the forum.

RasonKonTrans, a Russian - North Korean joint venture, is already implementing the Hasan-Rajin project. "Under the project, Russian cargoes are delivered by railway to the North Korean port of Rajin from where they are shipped to North Korean ports by sea. A total of 1.2 million tonnes of cargoes are expected to be transported this year," the Ministry for Development of the Russian Far East said.

There is also an opportunity to increase the turnover to 5 million tonnes a year. For that, it is necessary to expand several organizational issues in Russia and in North Korea.

South Korean companies will take part in a Russian-North Korean energy project under which electric energy will be supplied from Russia’s Primorye territory to the Rason trade and economic zone.

The Eastern Economic Forum will also consider projects of modernization of the Kim Chak metallurgical plant; the creation of a joint venture in the field of use of mineral resources in South Hamgyong Province and deliveries of soya and wheat to the DPRK.

The forum is expected to assemble more than 3,500 people, including 1,500 representatives of the world’s leading companies and power structures from Russia and the Asia-Pacific States.

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