India puts in place stricter regime for trade with North Korea

 

India has put in place a stricter regime for trade with North Korea in line with the restrictions imposed by the United Nations. Directorate General of Foreign Trade (DGFT) has come out with a notification to widen the prohibition on direct or indirect import and export of specified items from North Korea.

The items include condensates and natural gas liquids, refined petroleum products and crude oil for supply, sale, transfer or export. Similarly, direct or indirect procurement or imports of products including seafood, lead ore and textiles are facing restrictions.

The bilateral trade between India and North Korea declined to 133.43 million US Dollars in 2016-17 from 198.78 million dollars in the previous fiscal.