New Delhi: India on Friday followed the footsteps of United Nations and imposed stricter restrictions on trade with North Korea.
It has come to light that the Directorate General of Foreign Trade (DGFT) has come out with a fresh notification, which widens the scope of the prohibition on direct and indirect export from/to North Korea.
“The direct or indirect supply, sale, transfer or export of specified items to North Korea is prohibited,” it said.
The items include condensates and natural gas liquids, refined petroleum products, and crude oil. Similarly, direct or indirect procurement or imports of products including seafood, lead ore, and textiles are facing restrictions.
The “notification seeks to update the para 2.17 of the foreign trade policy (2015-20, on imports and exports to North Korea, to account for UNSC (United Nations Security Council) Resolutions…,” it added.
The bilateral trade between India and North Korea declined to USD 133.43 million in 2016-17 from USD 198.78 million in the previous fiscal.