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Azerbaijan, Korea eye exports, investments expansion co-op

23 May 2022 12:34 (UTC+04:00)
Azerbaijan, Korea eye exports, investments expansion co-op

Azerbaijan and Korea have discussed expansion of bilateral cooperation in the promotion of exports and investments, Azernews reports.

The discussion took place during a meeting between Yusif Abdullayev, the head of the Azerbaijani Export and Investment Promotion Agency (AZPROMO), and Jo Kyekwon, the director-general of the Korean Trade and Investment Promotion Agency (KOTRA).

During the meeting, they also discussed the strengthening of ties between AZPROMO and KOTRA, as well as opportunities for Korean companies to work in Azerbaijan's liberated territories and industrial zones.

Azerbaijan and Korea are cooperating in various fields. Thus, Korean companies successfully operate in various economic fields in Azerbaijan. Korean companies played a role in the modern architectural image of Baku as well as in the implementation of major industrial infrastructure projects. At present, over 70 Korean companies are operating in Azerbaijan.

Korea’s new northern policy covers 14 countries and Azerbaijan is the westernmost country among them.

The trade turnover between the two countries amounted to $227.6 million in 2021.


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