Korean investments in Azerbaijan top $133m, envoy says
Korean companies invested $21.2 million in Azerbaijan in January-September 2011, Korean Ambassador Lee Ji Ha has said.
Lee Ji Ha said in an exclusive interview with AssA-Irada that his country’s companies have been investing in the Azerbaijani economy since 2008 and the total volume of investments amounts to $133.4 million.
South Korea was the seventh biggest investor in the South Caucasus republic in 2010.
According to the ambassador, the funds were placed in a number of fields, including the road sector, construction of buildings and factories.
Lee Ji Ha said further that the Korean and Azerbaijani governments plan to establish a joint commission on economic cooperation next year.
The ambassador said the Korean side has completed work on setting up the commission. "After the Azerbaijani side wraps up its work in this regard, we will take a specific step, he added.
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