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Foreign Trade

Foreign trade is conducted according to the unitary national trade system and various forms of trade are developed under the well-organized trade management system. Having developed heavy industry with the machine­building industry as its core, as well as light industry and agriculture, the country secures through foreign trade what it lacks or is short of.

It is improving the structure of foreign trade in the way of living up to its trustworthiness on the principle of independence, equality and mutual benefit, eliminating one-sidedness and increasing the proportion of export of finished goods and trade in technology and service.

It is developing trade with developing countries under the ideal of South­South cooperation. Freeing itself from the tendency of conducting trade with particular countries and regions, it is undertaking technological exchanges and economic collaboration in various fields on the principle of mutual benefit.

Organs specializing in technological exchange are increasing, hi-tech products are being developed one after another, foreign trade is put on a multilateral and diversified basis, and equity and contractual joint ventures are organized with the stress put on earning profit; in this way, it introduces latest technologies.

Processing trade in the textile, garment-making, machine-building, automobile and foodstuff-processing industries is thriving on the basis of the country’s economic potentials and latest technology, and trade on commission and transit trade are actively sought. Regional trade is actively encouraged.

The Wonsan-Mt Kumgang area and Mt Chilbo are being turned into tourist resorts, and measures are being taken to create favourable investment environment and conditions by setting up an economic development park in every province that conforms to its characteristics. Travel companies are making scrupulous arrangements so that tourists can enjoy themselves during their stay in the country.