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The Presidium of the Supreme Soviet of the Union of Soviet Socialist Republics and the Presidium of the Supreme Popular Assembly of the Democratic People's Republic of Korea, desirous of a further development and strengthening of the economic and cultural relations between the Union of Soviet Socialist Republics and the Democratic People's Republic of Korea,

Being convinced that the strengthening and development of such relations is in the vital interest of the peoples of both countries and will best promote their economic and cultural development,

Have resolved to that end to conclude this Agreement and have appointed as their plenipotentiaries:

The Presidium of the Supreme Soviet of the Union of Soviet Socialist Republics:, Minister of Foreign Affairs of the USSR;

The Presidium of the Supreme Popular Assembly of the Democratic People's Republic of Korea: KIM IL SUNG, President of the Cabinet of the Democratic People's Republic of Korea,

who, having exchanged their full powers, found in good and due form and order, have agreed on the following provisions:

Article 1

The Contracting Parties shall in every way develop and strengthen their trade relations with each other on the basis of co-operation, equal rights and mutual benefit.

The Government of both Contracting Parties shall from time to time conclude agreements stipulating the volume and composition of reciprocal deliveries of goods for periods of one year and longer, and also other conditions necessary to ensure uninterrupted and increasing exchange of goods between the two countries, commensurate with the requirements of economic development of each of them.