SHENYANG, Feb. 18 (Xinhua) -- China Brilliance Automotive Holdings Ltd and Pyeonghwa Motor Corporation of the Republic of Korea (ROK) have agreed to co-produce buses in the Democratic People's Republic of Korea (DPRK).

He Guohua, deputy president of China Brilliance Automotive Holdings Ltd., said "light buses" would be assembled from bus parts made by his company at the ROK company's plant in DPRK and would be sold on the international market.

The contract is valid for five years during which China Brilliance will keep sending technical workers to the plant to teach local workers about how to assemble buses and how to debug buses assembled, said He.

It will be China Brilliance's third overseas venture after Egypt and Vietnam.

The plant of Pyeonghwa Motor Corporation in Nampo of DPRK enjoys privileges such as zero tariffs for both imported car parts and export of complete motor vehicles to ROK, said He.

A contract for exporting spare parts for 240 buses to the plant in the near future was also inked at the same day.