[imText1]On the 30th, Huanqiushibao, an international affiliated magazine of the Chinese People\u2019s Daily, noted the above statement on Russia\u2019s recent movement to invest in North Korea. <\/p>\n
The paper said, \u201cThe Russian natural fuel gas business has already completed the preparation for providing energy support and is planning to manufacture petroleum in North Korea.” <\/p>\n
\u201cRussia has pioneered the Chungjin-Siberia railroad for a long time\u201d and \u201cif they retain the Eurasia continental rail, then they will gain an annual economic profit of four hundred million dollars,\u201d the paper commented. <\/p>\n
Further, the paper said that \u201cRussia is finishing its preparation of surplus concentration in the Wondong (Far Eastern region) to export to North Korea.\u201d As a provision of support to invest in North Korea, Russia is also driving the construction of the Kraskino-Chungjin 50,000 kv railway line for exporting Korea remodeling business and concentration of energy in Wondong to three thermal generating plants in the North. <\/p>\n
The paper relays a Russian economic expert\u2019s voice to expand investment in North Korea <\/p>\n
Prekofts, Russia\u2019s Wondong Economic Research Institute Chair, said, while emphasizing the importance of investment expansion, \u201cWe cannot limit items to invest in North Korea to resource and energy areas. China has already built a glass factory in North Korea. Why can\u2019t we do what China is doing?\u201d<\/p>\n
Russia Considers Cancellation of 80 percent of North Korean debt<\/b><\/font><\/p>\n The paper said, \u201cAccording to the numbers of the Russian government authorities, the 2006 trade figure with North Korea amounted to 210 million dollars and has been reduced by 13 percent compared to the previous year.\u201d In the midst of such a situation, Russia has sufficiently considered the development potential of the North Korean market and is establishing a plan to encroach on the market according to the forecast that \u201cit will be advantageous for the pre-acquiring party.\u201d <\/p>\n According to the paper, President Putin commented, \u201cThe economic power with the world\u2019s fastest rate of financial progress is overwhelmingly the Asia-Pacific region.\u201d <\/p>\n The paper also said that because Russia considers of importance the strategic position of North Korea for connecting Europe and Asia-Pacific countries, it has considered the forward-looking way of remitting 80 percent (64 hundred million dollars) of North Korea\u2019s 80 hundred million dollar debt. <\/p>\n The current system of exchange between North Korea and Russia is the former exporting labor power and agricultural goods and latter exporting energy, oil, and raw materials.<\/p>\n The paper reported that there has been opposing public opinion regarding Russia\u2019s investment in North Korea. Because North Korea is not economically well-off, short-term recovery of investment gains is difficult. <\/p>\n The paper pointed out that a Russian merchant Merikonoft, who engages in international trade, said the following, \u201cI do not have immediate plans to invest in North Korea. North Korea does not have laws for protecting foreign capital, so doing business is a type of exploration.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" [imText1]On the 30th, Huanqiushibao, an international affiliated magazine of the Chinese People\u2019s Daily, noted the above statement on Russia\u2019s recent movement to invest in North Korea. The paper said, \u201cThe Russian natural fuel gas business has already completed the preparation for providing energy support and is planning to manufacture petroleum in North Korea.” \u201cRussia has […]<\/p>\n","protected":false},"author":122,"featured_media":3846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67],"tags":[],"class_list":["post-3844","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news"],"yoast_head":"\n