Making foreign trade multilateral and diversified is the consistent trade policy of the government of the DPRK.
Under the sagacious leadership of
the great leader Comrades Kim Il Sung and Kim Jong Il, the government of the DPRK developed multilateral and diversified foreign trade with many countries on the principle of independence, friendship, equality and mutual benefit, thus greatly contributing to the development of the self-reliant national economy.
To make foreign trade multilateral, it has taken positive measures to encourage various sectors and units of the national economy to have relations with many foreign enterprises and expand and develop them.
Situated in a geographically favourable place, Korea is abundant in ferrous and non-ferrous metal resources like iron ore, lead, zinc, graphite, ferrotitanium, molybdenum and nonmetallic resources such as coal, limestone and magnesite which are in high demand at the international market.
Under the scores-of-years-long policy of the Republic of developing science and technology, world-startling successes have been achieved in the field of cutting-edge science and technology like IT industry and bioengineering in line with the demand of the era of the knowledge-based economy. On this basis, in several sectors and units of the national economy, material and technical foundations have been laid for mass-producing high-purity non-ferrous metal products, large machines, precision machines, electronic parts, metal and chemical goods.
The government of the DPRK has concluded various types of trade agreements with many foreign countries and provided favourable conditions by adopting proactive and realistic legal and administrative measures for stimulating and promoting their implementation.
Thus around 130 countries in Asia, the Middle East, Europe and Latin America have had foreign trade relations with the DPRK and developed them since the early 1960s.
In pursuance of the policy of making foreign trade diversified, the DPRK has continuously increased in various forms and by various methods, the kind and volume of goods it deals with and expanded the width of its trade activities.
In recent years, trade organs have further increased the volume of export, at the same time as exporting a variety of products such as newly developed electronic and electric goods, precision machine parts in which cutting-edge technology is applied and high-purity products of graphite and other kinds of metal which are abundant in Korea, rare earth goods, products related with environment protection, health-promoting products, intellectual products like software and offered technical services of various forms.
Since the 1980s, all trade organs in the DPRK have dealt with many foreign enterprises on a wide scale. In exporting cement, magnesite, electrolytic zinc and zinc, they have adopted the forms of consignment trade and agency sale.
Recently, they are active in dealings on technology, barter trade, international bid, international auction and international lease.
To facilitate multilateral and diversified foreign trade, the government takes positive trade promotion measures.
It gives various preferential treatment to the trade organs which develop and export intellectual products and processed goods.
For further promoting foreign trade, it has established effective cargo transport system, payment system, insurance security system and steadily improved them.
In keeping with the rise in the volume of cargo, it has increased and modernized transport means like vessels and established a system of guaranteeing stable payment on trade goods by enhancing the role of banks. It has stepped up modernization and scientification of assessment on accidents related with carriage perils.
While encouraging all trade organs to appropriately combine external economic activities like joint investment, overseas construction and sci-tech exchange with foreign trade activities, the state offers favour to such activities. In this way it provides favourable trade environment and conditions for all foreign enterprises dealing with the DPRK.
The government of the DPRK will, in the future too, strive to make foreign trade multilateral and diversified on the principle of complete equality, mutual benefit and strict credit abidance.