Agreement on 5th meeting of north-south committee for promotion of economic cooperation

Pyongyang, May 23 (KCNA) — The 5th meeting of the north-south committee for the promotion of economic cooperation was held here from May 19 to 23.

At the meeting both sides raised and discussed measures to viably promote the economic cooperation through national cooperation, not “cooperation” with outside forces to meet the requirements of the times for achieving reconciliation and reunification by our nation itself under the banner of the June 15 Joint Declaration.

The two sides adopted an agreement after agreeing to positively promote economic cooperation in the direction of achieving the balanced development of national economy and co-prosperity in the basic spirit of the joint declaration.

The agreement signed by Pak Chang Ryon, chairman of the north side to the committee, and Kim Kwang Rim, chairman of the south side to it, reads:

1.The north and the south shall hold functions for reconnecting the east and west coastal railways at the points of the Military Demarcation Line (MDL) where they are to be relinked around June 10, 2003, and steadily push ahead with the projects for relinking railways and roads so as to complete them in the shortest possible period.

2.The north and the south shall make sure that a ground-breaking ceremony for the building of the Kaesong Industrial Zone will be held late in June according to the agreement between business sides and actively cooperate with each other in the efforts to develop the zone in such a way as to make it have international competitive power.

3.The north and the south shall make a joint survey for the flood control project on the River Rimjin within June depending on the steps taken for a military guarantee and establish an information system for flood control before the rainy season.

The north side shall send necessary information to the south side about discharging the water from the Imnam dam in anticipation of flood this year.

4.The north and the south shall effectuate as soon as possible the four agreements on the institutional guarantee for economic cooperation, the north-south agreement on marine transport, an agreement on telecommunications, customs and quarantine for the building of the Kaesong Industrial Zone after going through the necessary procedures.

5.The north and the south decided to reenergize tourism of Mt. Kumgang and shall take necessary steps to resume the tour of Mt. Kumgang by land and sea within June.

6.The north and the south shall render humanitarian cooperation on the principle of compatriotism and mutual help and the south side shall offer 400,000 tons of rice to the north side in the form of loan.

7.The north and the south shall hold the sixth meeting of the north-south committee for the promotion of economic cooperation in Seoul late in august.

The panel meetings and working-level contacts of the committee shall be held in Kaesong or Munsan according to the itineraries agreed upon between the two sides.

Image credit: https://www.flickr.com/photos/taver/15119477278/

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