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Azerbaijan-Korea business meeting due in Baku

15 August 2017 17:59 (UTC+04:00)
Azerbaijan-Korea business meeting due in Baku

By Rashid Shirinov

Baku will host the Azerbaijani-Korean business meeting on September 13, 2017, the Embassy of the Republic of Korea in Baku reported on August 15.

Representatives of ten Korean companies – Yelim Paint Spray, Mattron Corporation, Dongsan Valve, Jin Gu Engineering, Kwangwoon, KEONSAE HIGH PRESSURE, Daedong Marine TECH, MSTECH, DAEDONG INDUSTRIES and Beomchang – will arrive in Azerbaijan to attend the event.

The Embassy also noted that an event titled "Bilateral cooperation between Korea and Azerbaijan in shipbuilding" will be held in Baku within the framework of the Korean companies’ visit.

Azerbaijan was declared by the Korean government as priority country for economic cooperation for 2011-2013. In 2015, the Joint Intergovernmental Commission on Economic Cooperation was established between Azerbaijan and the Republic of Korea. Last June, the first meeting of Joint Economic Commission was held in Seoul.

The trade turnover between Azerbaijan and the Republic of Korea totaled $72.17 million in 2016, while $72.05 million accounted for the import of Korean products, according to the State Customs Committee.

As for January-July 2017, the trade turnover amounted to $38 million. Almost all of the amount accounted for the import of Korean products.

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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

Follow us on Twitter @AzerNewsAz

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