{"id":52436,"date":"2022-07-29T15:38:19","date_gmt":"2022-07-29T06:38:19","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=52436"},"modified":"2022-07-29T15:45:12","modified_gmt":"2022-07-29T06:45:12","slug":"north-korean-foreign-trade-ministry-order-sparks-hopes-china-dprk-trade-restart-september","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/north-korean-foreign-trade-ministry-order-sparks-hopes-china-dprk-trade-restart-september\/","title":{"rendered":"N. Korean foreign trade ministry order sparks hopes that trade will restart in September"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A recent order by the Ministry of External Economic Relations has sparked hope in North Korea that trade with China will restart sometime around September.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A source in North Hamgyong Province told Daily NK on Thursday that the Ministry of External Economic Relations issued an order to regional trade bureaus across the country in mid-July to make all necessary preparations because \u201ctrade is likely to restart from September.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cTrading companies are perking up to news of the order,\u201d he added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">China <\/span><a href=\"https:\/\/www.dailynk.com\/english\/china-still-appears-wary-about-reopening-trade-north-korea\/\"><span style=\"font-weight: 400;\">had been hesitant<\/span><\/a><span style=\"font-weight: 400;\"> to restart trade with North Korea due to concerns about the North\u2019s COVID-19 situation. However, the source \u2014 quoting a trade official in North Hamgyong Province \u2014 said the two sides agreed to restart bilateral trade from early September after observing North Korea\u2019s COVID-19 situation during the month of August.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Still, some in North Korea speculate that the date to restart trade could be delayed once again, given that the agreement is predicated on \u201cobserving North Korea\u2019s COVID-19 situation.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">North Korean trade bureaus will reportedly prioritize imports of rice and cooking oil should trade restart.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, with the Chinese side raising the price of rice from RMB 4 to 4.5 (.59 to .67 cents) a kilogram and refusing to sell for anything less, the two sides are reportedly at loggerheads.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The source said North Korean trade officials and Chinese traders have yet to reach an agreement regarding the rice price hike.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOur side [North Korea] is sticking to the existing price, while the Chinese side says it won\u2019t sell for even a single cent less than the price they\u2019ve quoted,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf trade restarts, supplies of rice to markets will increase, but if we pay as the Chinese side demands, domestic food prices will have to increase by a commensurate amount,\u201d he continued, adding, \u201cIf we import rice at high prices, it will impact existing market prices for rice, too, so we could see rice priced in the KPW 4,000 to KPW 5,000 range disappear from markets.\u201d<\/span><\/p>\n<p><i>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/i><\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20220728-5\/\"><i>Read in Korean<\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent order by the Ministry of External Economic Relations has sparked hope in North Korea that trade with China will restart sometime around September. A source in North Hamgyong Province told Daily NK on Thursday that the Ministry of External Economic Relations issued an order to regional trade bureaus across the country in mid-July [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":42643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67,645,649],"tags":[222,735,759],"class_list":["post-52436","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","category-china-north-korea-border","tag-border","tag-trade","tag-china"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>N. 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A source in North Hamgyong Province told Daily NK on Thursday that the Ministry of External Economic Relations issued an order to regional trade bureaus across the country in mid-July [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailynk.com\/english\/north-korean-foreign-trade-ministry-order-sparks-hopes-china-dprk-trade-restart-september\/\" \/>\n<meta property=\"og:site_name\" content=\"North Korea News \u2014 Daily NK | Latest DPRK Updates 2026\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-29T06:38:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-29T06:45:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/10\/\uc870\uc911\uc6b0\uc758\uad50_\ubd81\ud55c\ud2b8\ub7ed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"741\" \/>\n\t<meta property=\"og:image:height\" content=\"494\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lee Chae Eun\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lee Chae Eun\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korean-foreign-trade-ministry-order-sparks-hopes-china-dprk-trade-restart-september\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/north-korean-foreign-trade-ministry-order-sparks-hopes-china-dprk-trade-restart-september\\\/\"},\"author\":{\"name\":\"Lee Chae Eun\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#\\\/schema\\\/person\\\/6c9f40b0a89c4a5354607f43756dbbe0\"},\"headline\":\"N. 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