VIETNAM: North Korea Prime Minister Kim Yong-il visits Vietnam

North Korea's Prime Minister Kim Yong-il visits Vietnam on the first stop of a rare Southeast Asian tour. Vietnam Prime Minister Nguyen Tan Dung formally welcomed North Korean Premier Kim Yong-il on Saturday (October 27) before senior officials of the two communist-run countries signed memorandums of understanding to share agriculture technology and promote cultural exchanges. "We are convinced that our current visit will bear out good results," said a statement by the North Korean delegation, which includes several cabinet ministers. Kim, who is in charge of economic policy, arrived in Hanoi on Friday (October 26) and will visit a coal mine, a port, an agricultural institute and an industrial zone until Tuesday before going to Malaysia, Cambodia and Laos. Economic and political analysts said impoverished North Korea is desperate for foreign currency and trade. They said the four-nation trip could lead to trade ties with the region. United Nations sanctions imposed after a nuclear test in Oct. 2006 severed the North's limited trade with the outside world. The Premier is visiting Hanoi just 10 days after Communist Party General Secretary Nong Duc Manh received a red carpet reception in Pyongyang from North Korean leader Kim Jong-il. Vietnam, opening its economy and the newest World Trade Organisation member, says it has done almost no trade with North Korea since 1996. In contrast, Vietnam's business ties with South Korea are booming. South Korea is the biggest investor in Vietnam and two-way trade is about $4 billion.

ITN Source | October 27, 2007

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