North korea, business , china, world , north korea brand

Who buys North Korean products and how does business happen?

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North Korea has been banned for decades but sometimes this country looks like doing business just like any other country.
In September, organizers of Pyongyang Autumn International Trade Fair said that more than 250 domestic and foreign companies had demonstrated products in North Korea’s capital Pyongyang.

Countries like Syria, China, Cuba, Iran, Italy, Indonesia, Vietnam and Taiwan took part in the event. It was said to be successful in the media.

North Korea has been banned continuously for business. Recently, these restrictions have been tightened on December 23.

In this, import of oil from North Korea and import of food items, machinery and electrical equipment was banned.

North Korea is very risky for many companies. However, Paul Tijia, founder of Dutch IT consultancy, who runs a trade mission in North Korea, is more enthusiastic.

Paul Tijaya led a European delegation to explore trade and investment opportunities in Pyongyang in May.

He said, “Everyone wants to do international trade.”

Tijaya says that Kim Jong-left behind the advantages of helping ethnic concerns in promoting the North Korean economy with doing business with the government.

A new edition of North Korea’s Foreign Trade of DPRK publication had given many products to readers. It was given from medical equipment, ipad to soap.

Opening business in North Korea and making contacts with foreign clients, in this way this country does business with the world.

Justin Hastings, North Korean business researcher at the University of Sydney, says, “It is important for everyone to be entrepreneur to live in this country. They have to find a lot of creative ways to earn money. ”

Looking at trade magazines and press reports, it seems that everything is going well in North Korea. But, do you really buy North Korea’s products?

“It is very difficult to know,” says Stephen Haggard, professor of Korea-Pacific Studies and expert in the North Korean political economy at San Diego, University of California. However, this product is definitely not just for show. ”

Professor Haggard says, “These trade fairers are not meant for promotion, they are for business.”

90 percent turnover from China
North Korea does most of its business with China, which is potentially 90 percent. For this reason, many countries think that China can stop North Korea’s nuclear program by banning trade with it.

The US President had specifically emphasized China to implement UN sanctions. These restrictions were imposed on the export of coal, seafood and textile.

The United States had said that if these restrictions apply to North Korea, then one-third of its foreign trade will be completely eliminated.

Foreign currency coming from laborers

Another big source of foreign exchange in North Korea is that workers working in ships and construction sites in 40 countries around the world.

There are some specialized business companies in North Korea that employ jobs in foreign companies for employment in Russia, China and some African and European countries.

Based on the statements made on the basis of the statements made in foreign workers, it was found that most of the workers’ wages are sent to North Korea, which is at least two-thirds.

Also, due to the difficult conditions present for the workers in North Korea, working abroad also attracts them more.

The North Korean government makes a lot of efforts for the workers’ electoral process and enforces strict monitoring system in the country where the workers are going, so that no worker can escape from his eyes.

Researcher Tyodora Guepshanovova, in the database center created for North Korean human rights, points out, “The laborers wanting to work abroad have to prove loyalty to the government.”

“Interviews with such workers have shown that they are mostly married people who have children too. This means that there is a danger of punishment for breaking the rules for both the laborer and his family. ”

Arms trade
The arms trade of North Korea came to light when the Cuban-Soviet era weapons were found in a North Korean vessel with weapons of 240 tonnes in 2013.

Cuba said that he was sending arms to Korea to hide repaired weapons inside Chinese sacks.

At the same time, according to a report by the United Nations Security Council, in August 2016 30,000 rocket operated grenades were being taken to Sage Canal.

According to this report, the ship was operating under the Cambodian flag but it was operating the North Korean crew.

North Korean businessmen have been accused of making mask companies for theft of hidden deals.

North Korean brands may be disliked by many people but the country is not broken because they have learned to trade as an untouchable country.