S Korea exploring business co-op prospects
South Korean businessmen explored prospects for
cooperation with their Azerbaijani counterparts at a business forum
in Baku on Thursday attended by representatives of about 50
companies from South Korea. The discussions focused chiefly on
delivering Korean construction equipment to Azerbaijan.
Mammad Musayev, the president of the National Confederation of Azerbaijani Entrepreneurs, said in his remarks that there were good opportunities for expanding economic and trade cooperation between the two countries. He further said the current level of Azeri-Korean trade ties is below potential. Korean goods account for 6% of Azerbaijan`s imports, and the figure is even lower in exports, according to Musayev.
"We have held talks with Azeri companies engaged in agricultural production, in particular, grape, pomegranate and wine-making - the fields that the Koreans are interested in. These entrepreneurs will now try to hold business meetings with their Korean counterparts to reach agreement," Musayev said.
According to the Azerbaijan`s State Statistics Committee, the South Caucasus republic`s trade with S. Korea in 2008 made up $859.4 million, with exports accounting for $696.8m of the figure and imports - for the remaining $162.6m. Azerbaijan imports mainly vehicles and spare parts, electric appliances, plastic, and rubber from South Korea, while exports crude to the Asian country.
Mammad Musayev, the president of the National Confederation of Azerbaijani Entrepreneurs, said in his remarks that there were good opportunities for expanding economic and trade cooperation between the two countries. He further said the current level of Azeri-Korean trade ties is below potential. Korean goods account for 6% of Azerbaijan`s imports, and the figure is even lower in exports, according to Musayev.
"We have held talks with Azeri companies engaged in agricultural production, in particular, grape, pomegranate and wine-making - the fields that the Koreans are interested in. These entrepreneurs will now try to hold business meetings with their Korean counterparts to reach agreement," Musayev said.
According to the Azerbaijan`s State Statistics Committee, the South Caucasus republic`s trade with S. Korea in 2008 made up $859.4 million, with exports accounting for $696.8m of the figure and imports - for the remaining $162.6m. Azerbaijan imports mainly vehicles and spare parts, electric appliances, plastic, and rubber from South Korea, while exports crude to the Asian country.
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