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9th Meeting of North-South Comm. for Promotion of Economic Cooperation Held

Korean Central News Agency of DPRK

    Pyongyang, June 5 (KCNA) -- The 9th Meeting of the North-South Committee for the Promotion of Economic Cooperation was held here from June 2 to 5. Present there were the members of the north side's delegation led by Choe Yong Gon, vice-minister of Construction and Building Materials Industries who is chairman of the north side to the committee, and suite members, the members of the south side's delegation led by Kim Kwang Rim, vice-minister of Finance and Economy who is chairman of the south side to the committee, and suite members.
    At the meeting both sides discussed the issues of boosting the inter-Korean economic cooperation in the spirit of the June 15 North-South Joint Declaration.
    An agreement adopted after it was signed by the heads of both sides at the meeting said:
    1. The north and the south shall make sure that the construction of an experimental district inside the first-phase one million phyong area of the Kaesong Industrial Zone is completed and production starts towards the end of the year and actively cooperate with each other in the efforts to form and operate an industrial zone management organ till June.
    At the same time, both sides shall cooperate with each other in the efforts to commercially ensure from September electricity supply and telecommunications by use of the optical fibre transmission line connecting Munsan, Kaesong (telegraph and telephone bureau) and the industrial zone telecommunications centre and shall make internal preparations for the development of the next district depending on the smooth progress of the first-phase one million phyong development project.
    2. The north and the south shall simultaneously open the relinked railways on the east and west coasts to traffic next year. They shall start around October this year the train service on a trial basis in the possible sections upon which an agreement had already been reached.
    They shall open the relinked east and west coastal roads to traffic till October this year depending on the military guarantee to be provided for them.
    3. The north and the south shall adopt and effectuate the agreement on setting up and operating the north-south consultative office for economic cooperation as soon as possible through an exchange of documents.
    4. The north and the south shall make efforts for an early effectuation of the agreements adopted or initialed by both sides and take follow-up measures including the provision of appendices to them.
    In this regard both sides shall effectuate as soon as possible the north-south agreement on marine transport (appendix included) which has been already signed and exchanged between them and discuss the time for the passage of ships of both sides through territorial waters and the matters arising in navigation at the north-south working contact for cooperation in marine transport.
    5. The north and the south shall actively cooperate with each other in the efforts to settle the matters arising in relevant fields in order to boost the non-governmental economic cooperation.
    6. The south side shall provide 400,000 tons of rice to the north side on credit on the principle of mutual aid, prompted by compatriotism.
    7. The 10th Meeting of the North-South Committee for the Promotion of Economic Cooperation shall be held in Seoul from August 31 to September 3.
    The second meeting of the construction panel of the Kaesong Industrial Zone shall be held in Kaesong within June, the tenth north-south working contact for reconnecting the rail and road links at Mt. Kumgang resort from June 30 to July 2 and the fifth north-south working contact for cooperation in marine transport in Sokcho from July 13 to 15. They also shall hold other necessary panel meetings and working contacts after fixing dates for them in the future.