 |
Seoul, Pyongyang Initial Four Trade Agreements
South Korea and the Democratic People's Republic of Korea (DPRK) have initialed four agreements on prevention of double taxation, trade settlement, investment guarantee and dispute settlement.
The agreements were drafted at the second-round inter-Korean working-level talks, which began Wednesday and ended Saturday morning in Pyongyang, according to the Unification Ministry of South Korea.
The initialed agreements, which are to be signed soon at the forthcoming high-ranking talks, are seen to have paved the way for direct inter-Korean trade and remittance without going through a third country.
The two sides also agreed to establish the South-North Trade Arbitration Committee in charge of handling disputes on economic cooperation.
With both sides signing the agreement, inter-Korean economic cooperation is expected to gain a big momentum for companies of both sides will be able to do business in the other side for the first time after half century of division on the Korean peninsula.
In This Section
|