March 23, 2018

China's imports from N.Korea plummet in December, lowest for 4 years

13 January 2018, 04:08 | Taylor George

China's imports from N.Korea plummet in December, lowest for 4 years

UNSC hails inter Korean talks continues sanctions

China's trade with North Korea plunged by 50 percent in December as United Nations sanctions tightened, the Beijing government said on Friday.

The administration of U.S. President Donald Trump welcomed signs that China, North Korea's main economic partner, was "sharply reducing" trade with its neighbor.

"This action supports the United States-led global effort to apply maximum pressure until the North Korean regime ends its illicit programmes, changes its behaviour and moves toward denuclearisation of the Korean peninsula".

Canada and the United States are co-hosting the meeting in Vancouver on 16th of this month to demonstrate worldwide solidarity against North Korea's nuclear and missile tests.

The penalties that came into force on September 5 a year ago banned countries from buying coal, iron ore, lead, lead ore and seafood from North Korea.

But Hook said Washington remained in contact with China about enforcing the sanctions and pressuring Kim, and that both Beijing and Moscow would be briefed after the talks.

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As such, North Korea's neighbours China and Russian Federation are not invited, and many have questioned the utility of a conference where such influential regional players are absent.

"The meeting will bring together nations from across the globe to demonstrate worldwide solidarity against North Korea's risky and illegal nuclear and ballistic missile programs", the statement said.

"We believe that only in this format, at the negotiating table, in a calm and normal atmosphere this very complex problem can and should be solved", Zakharova said, ruling out any possibility of a military option. Beijing has imposed limits on oil sales and cut deeply into the North's foreign revenue by ordering North Korean businesses in China to close, sending home migrant workers and banning purchases of its coal, textiles, seafood and other exports.

However, exports to the country rose 8.3 percent to $3.34 billion. They include South Korea, Britain, the Philippines and Australia.

Chinese customs will formally release data for trade with North Korea in the second half of the month, along with a breakdown by product.

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