North Korea Strengthens Economic and Trade Ties with China: "Hoping for Close Communication and Cooperation"

Yun Jeong-ho, North Korean Minister of External Economic Relations, Visits Chinese Embassy in Pyongyang

North Korea, which lifted its border closure for the first time in 3 years and 7 months since COVID-19, has expressed its intention to expand trade with China.

On the 31st of last month, Yun Jeong-ho, North Korea's Minister of External Economic Relations (left), and Wang Yajun, Ambassador to China, met at the Chinese Embassy in Pyongyang.
[Photo by Yonhap News]

According to the Chinese Embassy in North Korea on the 1st, Yun Jeong-ho, North Korea's Minister of External Economic Relations, met with Ambassador Wang Yajun at the Chinese Embassy in Pyongyang the previous day and stated, "Strengthening economic and trade cooperation between North Korea and China is a common desire of the peoples of both countries and aligns with the mutual interests of both nations."

The Chinese Embassy further reported that Minister Yun said, "North Korea wishes to closely communicate and cooperate with China according to the intentions of the top leaders of both parties and countries, and to lead the economic and trade cooperation between North Korea and China to continuously reach new stages."

Ambassador Wang responded, "Under the plans and leadership of General Secretary Xi Jinping and General Secretary (Supreme Leader) Kim Jong-un, China-North Korea relations have achieved new and greater development."

Ambassador Wang also said, "The continuous deepening and development of China-North Korea economic and trade cooperation has played an important role in solidifying the traditional friendship between the two countries and improving the livelihoods of their peoples. The Chinese Embassy will actively promote closer communication and coordination with the Ministry of External Economic Relations to ensure that China-North Korea economic and trade cooperation yields even richer results."

According to the Korea Trade-Investment Promotion Agency (KOTRA), trade with China accounted for 96.7% of North Korea's total trade volume of $1.58561 billion (approximately 2.02 trillion KRW) last year.

This content was produced with the assistance of AI translation services.