Investing in non-oil sector of Azerbaijan can be attractive for Korean businessmen Azeri deputy minister for economic development
An Azerbaijani-Korean business forum started in Baku on 11 May. The event was organized by the Azerbaijani Fun for Promotion of export and Investments (Azpromo) with support from the Ministry of Economic Development, Trend reports. In his opening remarks the Deputy Minister for Economic Development, said that the economic relationships between Azerbaijan and Korea, aged over 10 years, are consolidated every year.
In 2005 the goods turnover between the two countries grew 53% as compared to 2004, while import rose 78.2%, he noted.
Jabbarov said that in compliance a report of the UN conference on trade and development for 2005, Azerbaijan is the most attractive country for investing. Over the years of independence foreign investments in Azerbaijans economy exceeded $21bn, he noted.
The Azerbaijani government holds a policy of open doors in respect to foreign countries and is ready to render every assistance to Korean entrepreneurs who are eager to invest in Azerbaijani economy. In his opinion the participation in the regional projects, as well as investing in the non-oil sector, can be reasonable for the Korean entrepreneurs.
The chairman of the Korean Chamber of Commerce and Industry, Son Kyung Shick in his address noted that Korea and Azerbaijan efficiently interact in issues of mutual interest, while the economic relationships still have potential for progress.
The major part of Korean business regarded Azerbaijan as a country with dynamic growth pace of economic development in the Caspian a new objective of investing for the Korean business, he said.