Ｍｅｅｔｉｎｇ ｏｎ Ｍａｋｉｎｇ Ｉｎｖｅｓｔｍｅｎｔ ｉｎ ＤＰＲＫ Ｈｅｌｄ ｉｎ Ｂｅｉｊｉｎｇ

A meeting on how to make investment in the Democratic People’s Republic of Korea was sponsored by the CPAFFC with the support of the Committee for Promotion of External Economic Cooperation (CPEEC) of the DPRK and held by the Beijing Huali Economic and Cultural Exchange Co.， Ltd. in Beijing on February 25. At the meeting， the Korean side gave a detailed briefing on the country’s present economic policy， investment environment and major projects for investment. CPAFFC President Chen Haosu and Vice President Wang Yunze among more than 100 entrepreneurs from all parts of China attended the meeting. Chen Haosu spoke at the meeting on behalf of the Chinese side. Li Shuzheng， president of the China-Korea (DPRK) Friendship Association， and Wang Yunze met with the delegation and hosted banquets in its honour on separate occasions.

The CPEEC is the most authoritative organization for external economic relations of the DPRK. It used to operate under the Trade Department. In June 2004， it was separated from the Trade Department and became an independent ministerial department directly under the Cabinet to strengthen economic and trade contact with foreign countries and draw foreign investment. It is the highest authority in the DPRK in charge of registration， approval and supervision of joint venture as well as single-investor enterprises. Cooperation between Korean trading companies and foreign investors must be approved by the committee. As for the government key projects， the committee directly cooperates with foreign enterprises or sets up joint ventures.

On February 28， the CPEEC and the CPAFFC signed a letter of intent on friendly exchange and cooperation. The two sides agreed to hold a briefing on making investment in DPRK at least once a year. The two sides will increase information exchange and provide consultation services for the Chinese enterprises intending to make investment in the DPRK. The Korean side entrusts the CPAFFC to organize Chinese entrepreneurs to make study tours in the DPRK and is responsible for arranging business talks between the Chinese entrepreneurs and their Korean counterparts.