January 9, 1995 in Nation/World

North Korea Says It Will End Trade Bans

Compiled From Wire Services

North Korea said today it will end its ban on trade and financial transactions with the United States as part of a recent nuclear agreement.

The decision, to take effect in mid-January, will allow U.S. ships into North Korean ports and telecommunications links between the two countries, the North’s official Korean Central News Agency reported.

“This means that we have completely fulfilled our obligation under the provision on the reduction of the barriers to trade and investment stipulated in the DPRK (North Korea)-U.S. framework agreement,” an unidentified North Korean Foreign Ministry spokesman told the agency.

The Oct. 21 nuclear deal is aimed at dismantling a North Korean nuclear program that many believe can make nuclear weapons. The North will receive two modern nuclear reactors worth $4 billion, plus financial aid and diplomatic recognition.

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