Agence-France Presse reports:
China has proposed a huge investment deal to revive North Korea’s faltering economy, a report said Friday, amid an international drive to coax Pyongyang back to nuclear disarmament talks.
China’s state-run Shangdi Guanqun Investment plans to invest about $2 billion in a project to build up a North Korean free trade zone into a regional export base, the JoongAng newspaper said.
A memorandum of understanding was signed with Pyongyang’s Investment and Development Group on December 20, it said.
The two sides hope the area in Rason near the North’s border with China and Russia will be the biggest industrial zone to be built in Northeast Asia in a decade, the daily said, citing documents related to the deal.
