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10th Inter-Korean Economic Meeting Closes

Korean Central News Agency of DPRK via Korea News Service (KNS)

    Seoul, July 12 (KCNA Correspondent) -- The tenth meeting of the North-South Committee for the Promotion of Economic Cooperation that was kicked off in Seoul on July 10 closed Tuesday. The meeting proposed a series of measures for dynamically pushing forward the economic cooperation for the balanced development of the national economy and has agreed on a number of issues through exhaustive consultation.
    The two sides have agreed on the following points:
    The north and the south have agreed to combine their resources and technologies, etc. and promote economic cooperation in a new manner with a view to ensuring the balanced development of the national economy.
    They have agreed to set up the north-south economic cooperation consultation office in the Kaesong Industrial Zone within September and adopt an "agreement on the establishment and operation of the North-South Economic Cooperation Consultation Office."
    They have also decided to actively cooperate with each other to step up the first phase infrastructure construction covering the one million phyong area in the Kaesong Industrial Zone, ensure satisfactory supply of electricity, telecommunication means and water, etc., finish the planned construction of 15 factories undertaken on an experimental basis in the zone within this year and push ahead with the construction of the zone at a fast speed. The north and the south have agreed to set up the Panel for Cooperation in Fisheries and seek a negotiated solution to issues of cooperation in fisheries including joint fishing, mariculture and seafood processing in the direction of ensuring peace in the West Sea and meeting the common interests of fishermen of both sides. They have also agreed to hold the first meeting of the Panel for North-South Cooperation in Fisheries in Kaesong from July 25 through 27.
    The north and the south have agreed to finish as early as possible the construction of the demarcation line stations in the sections of relinked railways on the eastern and the western coasts and the project of installing technical equipment there and hold a test train operation and a ceremony of opening the road to traffic around October depending on an early provision of a military guarantee. They have agreed to hold the fifth meeting of the North-South Panel for Reconnecting Rail and Road Links in Kaesong from July 28 through 30.
    They have agreed to ensure the north side's civilian vessels' transit through the Jeju Strait with coming August 15 as an occasion and discuss relevant technical issues at the 5th north-south working contact on cooperation in marine transport to be held in Munsan from August 8 to 10.
    Both sides have agreed to exchange information related to the independent survey aimed at the flood control in the River Rimjin at an early date and conduct a joint survey around the latter half of August depending on an early provision of a military guarantee. The north side has agreed to inform the south side of its plan to discharge water from the flood gate in the River Rimjin and the Imnam Dam as a measure to prevent possible damage during this rainy season.
    The north and the south have agreed to put into effect early in August nine agreements for providing an institutional guarantee for economic cooperation upon which an agreement had already been reached including the "agreement on the entry and exit and stay in the Kaesong Industrial Zone and Mt. Kumgang Tourist Zone" after going through necessary procedures.
    The north and the south have agreed to exchange economic study groups within November depending on the consultation made on the objects of economic cooperation. Both sides have agreed to consult by way of exchanging documents in the days ahead the issue of organizing the north-south scientific and technical working consultative body with a view to promoting scientific and technological cooperation.
    The south side decided to provide the north side with 500,000 tons of rice on credit from a compatriotic and humanitarian point of view.
    The north and the south have decided to hold the 11th meeting of the North-South Committee for the Promotion of Economic Cooperation in Pyongyang from September 28 to October 1.
    They have agreed to hold the second working contact for the construction of the Kaesong Industrial Zone, the first working contact for the flood control in the River Rimjin, the second working contact of the Panel for Economic Cooperation and the second working contact for the confirmation of places of origin in Kaesong from September to October and to set detailed timetables by way of exchanging documents in the days ahead.
    The head of the north side's delegation and the chief delegate of the south side each made public the agreement and exchanged documents signed by them.