North Korea and Russia on Friday strengthened ties by signing an economic development protocol agreement with the aim of increasing annual bilateral trade to $1 billion by the year 2020.
The protocol was co-signed by the Minister for Development of the Russian Far East Alexander Galushka and the North Korean Minister of Foreign Trade Ri Ryong Nam following a five day Russian delegation visit to the Rason Sonbong area.
The protocol agreement outlined mutual economic interests between the two countries that include cooperation in trade, investment, transport, energy and natural resources, employment and interregional cooperation.
Russian officials in March stated an intention to explore new markets following the introduction of sanctions by the west over Russian action in Crimea, Russian news agency RIA Novosti said on Friday.
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