PRC citizens living within 20 kilometers from the border, will have the opportunity to trade with inhabitants of the DPRK. The size of the trading area amounted to 40 thousand square kilometers.
MOSCOW, 15 Oct. On the border of China and North Korea on Thursday opened a border trade zone Gomangani (Guomenwan), Xinhua news Agency reported.
In July, the Xinhua news Agency with reference to the government of Liaoning province reported that the authorities of the PRC and the DPRK have agreed on the opening zone between the two countries. The provincial government earlier also said that the opening will take place in the framework of the fourth economic, Trade and cultural tourism fair between China and the DPRK Dandong in Dandong.
The size of the trading area amounted to 40 thousand square kilometers, although earlier it was reported that she will be 24 thousand square kilometers.
The people of China, living within 20 kilometers from the border, will be able to trade with inhabitants of the DPRK, as well as to buy tax-free goods worth about 1.3 thousand USD daily.
In Dandong, which is a key trade, investment and tourism hub between China and North Korea, there are more than 600 enterprises from the trade sector. Trade with North Korea amounts to 40% of the turnover of the city.
“The area will be an open trading platform,” — said at the opening of area Director of the holding company China All Access Cuanto Chen, who is the operator of the commercial zone.
The Deputy Director of the Bureau of foreign trade relations and economic cooperation of Liaoning province tan AVIC I said the zone will help promote trade between the PRC and the DPRK and increase the income of residents on both sides of the border.