Politics  |  Tourism  |   Foreign Trade  |   Arts  |   Public  |   IT Industry  |   Korea is One

THE PYONGYANG TIMES KOREA TODAY KOREA FOREIGN TRADE
list | first | before | next | last
Untitled Document
REGULATIONS ON ENTREPOT TRADE IN THE RASON ECONOMIC AND TRADE ZON

Adopted by Decision No. 62 of the Cabinet on October 27, 2000

Chapter 1. General

Article 1. These regulations are formulated to establish an order related to entrepot trade in the Rason economic and trade zone and to expand and develop external economic relations with different countries of the world.
Article 2. Entrepot trade is a type of trade whereby goods are brought in from a country and the same foreign goods are taken out again to another country either as they are or after being repackaged or undergoing some processing.
Article 3. Trading companies of the DPRK may conduct entrepot trade in the Rason economic and trade zone (hereinafter called the Zone).
Foreign-invested enterprises established in the Zone may also conduct entrepot trade with the approval of the central trade guidance organ.
Trading companies of the DPRK and foreign-invested enterprises established in the Zone that intend to be engaged in entrepot trade in the Zone (hereinafter called the entrepot trader) shall make customs registration with the customs office of the Zone.
Article 4. The entrepot trader conducting legal entrepot trading activities in the Zone shall be protected by the law of the DPRK.
The entrepot trader shall strictly observe the relevant laws and regulations of the DPRK.
Article 5. The Rason City People’s Committee (hereinafter called the Zone Administration) shall guide entrepot trade activities in the Zone under the unified supervision and guidance of the central trade guidance organ.
Article 6. These regulations shall be applicable to the entrepot traders in the Zone.

Chapter 2. Bringing In and Taking Out of Entrepot Trade Goods

Article 7. Entrepot trade goods may be brought into or taken out of the Zone without the trader having to obtain an export/import licence and an approval of price as well as to submit such goods to quality inspection by the relevant organs of the DPRK.
Where necessary, the entrepot trader may request the relevant quarantine or inspection organ to quarantine or inspect entrepot trade goods and be issued relevant documents of quarantine or inspection.
Where necessary, a relevant quarantine or inspection organ may quarantine or inspect entrepot trade goods without any request being made to it to do so.
Article 8. Where entrepot trade goods are to be brought in or taken out, a document declaring export/import shall be submitted to the Zone Administration and, upon its agreement being granted, to the customs office of the Zone.
Article 9. No entrepot trade goods taken out of the Zone shall bear the certificate of origin or a trademark of the DPRK.
Article 10. No entrepot trade goods which are detrimental to the national security or harmful to the life and health of people or to the growth of animals and plants shall be brought into the Zone.
Article 11. Entrepot trade goods shall be brought into or taken out of the Zone only through a designated route.
Article 12. Entrepot trade goods shall be exempted from customs duty.

Chapter 3. Storage and Repackaging of Entrepot Trade Goods

Article 13. Entrepot trade goods shall be stored only in places with storage facilities such as warehouses and open storage yards, as approved by the customs office.
Article 14. The entrepot trader shall pay fees for the storage of entrepot trade goods.
Article 15. Entrepot trade goods may be sorted, repackaged, or undergo some processing to the extent that their properties are not changed.
Article 16. Where entrepot trade goods are to be processed a little or repackaged, a declaration shall be submitted to the Zone Administration and the customs office stating the names of the goods, the content and period of processing or repackaging and so on.
Article 17. Processing or repackaging of entrepot trade goods may be performed directly by the entrepot trader or be entrusted to an enterprise in the Zone under the supervision of the customs office.

Chapter 4. Supervision and Control

Article 18. The Zone Administration and the customs office of the Zone shall exercise supervision and control over entrepot trade activities.
Article 19. In case of violation of these Regulations, sanctions shall be imposed such as fine, confiscation of the entrepot trade goods or suspension of the entrepot trade business depending on the degree of violation and, in case of a grave violation, criminal punishment shall be applied.
Article 20. In case of a grievance in connection with entrepot trade activities, a complaint or petition may be submitted.
A complaint or petition shall be settled within 30 days from its receipt.


top | list | first | before | next | last


Home    |   Politics  | Tourism  |  Foreign Trade  |  Arts  |  Publication  |  IT Industry
Korea is One  |  Contact Us    |    Site Map

e-mail : email-us@ kcckp.net