Russia and North Korea have set up a bilateral business council on February 4 that will facilitate cooperation and help the two countries meet their goal of $1 billion in trade by 2020.

The council will help Russian firms looking to invest in North Korea find business partners, arrange exhibition events and put investment initiatives into motion.

“This is undoubtedly a new stage of business cooperation between Russia and North Korea, which will significantly strengthen trade and economic relations between the two countries,” Russian Commerce and Industry Chamber Vice-President Vladimir Strashko said in comments carried by ITAR-TASS news agency.

Speaking