Democratic People's Republic of Korea
Official webpage of the DRP Korea
Website: http://www.korea-dpr.com/index.html
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country situated in East Asia, in the northern part of the Korean Peninsula. The country is bordered by China, South Korea. North Korea is a member of the Asian Development Bank, Economic Social Commission for Asia and the Pacific, Conference on Trade and Development, International Maritime Organisation and other international organizations.
Import and export requirements
North Korea has one of the world's least open economies. The country's government does not intend to create an economy which conforms to market laws. It should be mentioned that North Korea is not easily accessible to foreign trade. The DPRK's government imposes strict and unfavourable regulations which create trade barriers. The country's economic relations are restricted to its neighbouring countries - South Korea, China, Russia and Japan.
Customs Law of The Democratic People's Republic of Korea
- The State shall apply either zero or low tariff on materials whose import and export are encouraged and high tariff on materials whose import and export are discouraged.
- The customs shall inspect cargoes. commodities and transport means which are brought into or taken out of the D.P.R.K. Cargoes. commodities and transport means which have not been inspected by the customs are not allowed to enter or leave the D.P.R.K.
- The customs shall strictly supervise and control the transportation of materials to ensure that materials which are not included in the state foreign trade plan or for which license of import or export has not been obtained are not brought into or taken out of the D.P.R.K.
- The standard price on which customs duty is levied shall be the price on arrival at border in case of import, price of delivery at border in case of export and retail price in the other cases. Tariff shall be set by the Administration Council of the D.P.R.K.
- The calculation of customs duty shall be done in Korean Won according to tariff applied at the time of import or export. The conversion of foreign currencies into Korean Won shall be subject to the exchange rate specified from time to time by the foreign exchange control organ.
Source:
http://www.asianlii.org/kp/legis/laws/clotdprok489/
