Philip­pines sus­pends trade with regime

Bangkok Post - - ASIA -

MANILA: The Philip­pines has sus­pended trade re­la­tions with North Korea to com­ply with a UN Se­cu­rity Coun­cil res­o­lu­tion over its re­peated mis­sile tests, Manila’s for­eign min­is­ter said yes­ter­day.

The US and other Western coun­tries have asked the UN to con­sider tough new sanc­tions on North Korea af­ter its test last week that it said was of an ad­vanced hy­dro­gen bomb.

“We can say we have sus­pended trade re­la­tions with North Korea,” For­eign Min­is­ter Alan Peter Cayetano told re­porters af­ter a meet­ing with the US am­bas­sador on co­op­er­a­tion on an anti-drugs pro­gramme. “We will fully com­ply with UNSC res­o­lu­tion in­clud­ing the eco­nomic sanc­tions.”

Ten­sion on the Korean Penin­sula has es­ca­lated as North Korea’s leader, Kim Jong-un, has stepped up the de­vel­op­ment of weapons in de­fi­ance of UN sanc­tions.

The Philip­pines is North Korea’s fifth-largest trade part­ner, with bi­lat­eral trade from Jan­uary to June this year worth US$28.8 mil­lion, ac­cord­ing to the Korea Trade-In­vest­ment Pro­mo­tion Agency.

Ac­cord­ing to the Philip­pine Depart­ment of Trade and In­dus­try (DTI), the main ex­ports to North Korea in 2015 were com­put­ers, in­te­grated cir­cuited boards, ba­nanas and women’s un­der­gar­ments.

“The UN Se­cu­rity Coun­cil is quite clear,” Mr Cayetano said. “Part of these are the eco­nomic sanc­tions and the Philip­pines will com­ply.”

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