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Azerbaijan, South Korea mull prospects for enhancing ties

11 April 2014 17:17 (UTC+04:00)
Azerbaijan, South Korea mull prospects for enhancing ties

By Nazrin Gadimova

Azerbaijan and South Korea discussed prospects for enhancing bilateral relations, as Azerbaijani delegation led by Parliamentary First Deputy Speaker Ziyafat Asgarov has visited the Republic of Korea.

The delegation met Korean Speaker of the National Assembly Kang Chang-hee to discuss the current state of and prospects for the bilateral ties between the two countries.

Praising the bilateral relations between Azerbaijan and South Korea, they noted that the two countries made efforts to expand relations in political, economic, cultural and other fields.

The meeting discussed a number of documents signed between the two countries in a variety of fields, and also emphasized the important role of the high level visits, especially visits of the two countries' presidents in strengthening the bilateral relations, as well as the importance of the interparliamentary ties in expanding cooperation between the two countries.

The Korean side was informed about Azerbaijan's latest achievements under the leadership of President Ilham Aliyev, as well as major energy, transport and infrastructure projects implemented in the country.

Touching upon Armenia-Azerbaijan Nagorno-Karabakh conflict, the Azerbaijani side noted that Armenia ignored four resolutions of the UN Security Council concerning the solution of the dispute, as well as requirements of the PACE, Organization of Islamic Cooperation and other international organizations.

Ziyafat Asgarov also met Korean Prime Minister Jung Hong-won to discuss the development of bilateral relations, as well as the current state of the economic cooperation, and new investment opportunities.

It was noted that a number of Korean companies had been implementing successful projects in Azerbaijan, while Azerbaijan's investment in Korean immovable property market amounted to $450 million.

The Azerbaijani delegation also met Vice Speaker of the Korean National Assembly Speaker Park Byeong-seug, members of the Korea-Azerbaijan Interparliamentary friendship group of the National Assembly and Deputy Mayor of Seoul Kim Sang Bum.

The sides hailed the current state of the bilateral ties, and stressed the importance of such reciprocal visits in terms of boosting bilateral bonds between the two countries.

The relations between Azerbaijan and South Korea cover many areas, particularly politics, economics, culture, and other fields.

The two countries have signed about 40 agreements, and trade turnover between them has increased 16-fold, hitting $650 million, in the past seven years.

Korea's exports to Azerbaijan are mainly automobile, plastic, and electronic products, while the South Caucasus republic exports oil, aluminum, and copper products to Korea. There is great potential for cooperation in the tourism sector as well.

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