The visit of Korean mission for economic cooperation headed by the Korean deputy minister of commerce, industry and energy to Azerbaijan will be realized from 27 to 29 August 2006, Trend reports with reference to the Economic Development Ministry of Azerbaijan. During the visit, the sides will discuss the possible ways of future cooperation between Azerbaijan and Korea, the businessmen of the two countries will meet and concrete projects will be defined.
With the initiative of Korean side, on July 18 it was held the presentation of Azerbaijani investment opportunities in Seoul, especially investments into the sphere of energy, information technologies. However, taking into consideration the priorities of Azerbaijan government in the development of non-oil sector, the presentation of tourism, agricultural and agrarian sectors was held.
The interest towards Azerbaijan emerged after May visit of Korean president Ro Mu Hyun to Azerbaijan. During the visit, there was mentioned a great potential between Azerbaijan and Korea for economic cooperation in the sphere of petrochemistry, road construction agriculture, banking and insurance market.
Today, the Korean companies are represented in the sphere of domestic electric appliances, sale of automobiles and provide technical service to them.