Baku, Azerbaijan, June 14
By Azad Hasanli - Trend:
South Korean companies want to expand their participation in the implementation of infrastructure projects in Azerbaijan, YONHAPNEWS agency reported June 14 citing South Korea's Ministry of Trade, Industry and Energy.
This issue was discussed in Seoul during the first round of negotiations between Azerbaijan and South Korea, in which Azerbaijan's Deputy Minister of Communications and High Technologies Iltimas Mammadov took part.
The sides agreed to expand bilateral economic cooperation in the spheres of infrastructure and industry.
The two sides held the first round of economic talks to discuss ways to bolster trade and investment and help more South Korean firms participate in infrastructure projects in Azerbaijan.
"We expect that South Korea's advanced industrial plant technology and Azerbaijan's abundant resources will create higher value-added products," said South Korea's Vice Minister of Trade, Industry and Energy Woo Taehee.
The trade turnover between Azerbaijan and South Korea amounted to $30 million in January-April 2016, almost all amount of which accounted for Azerbaijan's import from this country, according to Azerbaijan's State Customs Committee.