[USFK Forums] China, N. Korea Ink Oil-Exploration Pact [AP]

[C. Y. Lee]

Uploaded by C. Y. Lee on Monday, December 26, 2005

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China, N. Korea Ink Oil-Exploration Pact

AP, Sat Dec 24, 4:43 PM ET

China and North Korea signed an agreement Saturday to jointly develop offshore oil reserves, the Chinese government said, amid efforts to prod the North to speed up economic reforms.

The deal was signed after a meeting in Beijing between North Korean Vice Premier Ro Tu Chol and his Chinese counterpart, Zeng Peiyan, the official Xinhua News Agency reported. The report offered no other details.

North Korea has begun limited Chinese-style reforms in its decrepit, centrally planned economy. But Beijing is pushing Pyongyang to speed up economic development and has promised aid and advice.

Beijing also is under pressure from the United States to use its influence with Pyongyang to push for a settlement to demands that the North give up nuclear weapons.