Azerbaijan, Baku, Dec. 16 /Trend/
Azerbaijan's Foreign Minister Elmar Mammadyarov said the Caspian nation is planning massive investments to reinforce roads, railways and other infrastructure, and is ready to work with South Korean companies on the projects.
In an interview with Yonhap News Agency, Mammadyarov also expressed hope that South Korea and Azerbaijan can expand their regular economic cooperation talks so that the two sides can discuss a wider range of cooperation projects and other issues.
Mammadyarov was in Seoul on Tuesday and Wednesday for talks with South Korean Foreign Minister Kim Sung-hwan. He also met with Prime Minister Kim Hwang-sik and National Assembly Speaker Park Hee-tae.
"The two sides agreed to work closely together to develop mutually beneficial cooperation projects combining rich resources of the Caspian nation and advanced Korean technologies," Sung-hwan said.
"Azerbaijan is planning large-scale investments not only in the energy sector, but also in infrastructure construction, such as roads, railways and communication networks, and the agriculture sector," Mammadyarov said in the interview held Wednesday evening.
"We are ready to cooperate not only with conglomerates but also with small- and medium-sized firms in South Korea."
He said that economic relations between the two countries have made strides since the two countries exchanged presidential visits in 2006 and 2007, with a growing number of South Korean companies taking part in construction and other projects in Azerbaijan.
"Currently, the two countries have an economic cooperation committee and I propose that we expand it to a joint commission where we can discuss a variety of cooperation issues and other pending matters between the two countries," Mammadyarov said.