Business delegation to visit Pyongyang

PUBLISHED : Thursday, 04 September, 2008, 12:00am
UPDATED : Thursday, 04 September, 2008, 12:00am

A delegation from the Chinese Manufacturers' Association of Hong Kong will visit Pyongyang next week on a mission to explore business opportunities and economic ties with North Korea.

'The main purpose of this trip is to do some site visits and meet businessmen there,' association president Paul Yin Tak-shing said.

He said North Korea had started to open up, as revealed by the landmark visit of the New York Philharmonic Orchestra to Pyongyang in February.

'We would like to see how open the country is, the facilities and the key industries there, as well as to explore the cost of doing business in North Korea,' he said.

During the five-day visit to the North Korean capital, the association planned to sign a memorandum of understanding with the Chamber of Commerce of the Democratic People's Republic of Korea - which initiated the trip.

Under the memorandum, it is understood that the two organisations will hold trade fairs and exhibitions together, foster economic activities and exchanges, and strengthen co-operation.

Mr Yin said the North Korean chamber had been active in inviting Hong Kong investors to do business in that country.

With the support of the North Korean consulate in Hong Kong, the delegation will have 19 members, including businessmen and association vice-presidents David Wong Yau-kar and Lo Foo-cheung.

The association said it was unclear whether delegates would meet North Korean government officials during its visit, as the itinerary was still undecided.