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Azerbaijan, South Korea to raise economic cooperation group status

Business Materials 28 August 2006 16:40 (UTC +04:00)

The governments of Azerbaijan and South Korea launched talks on raising the status of economic cooperation group within Azeri-Korean intergovernmental commission, Trend reports quoting Lee Von Gul, deputy minister of Industry and Energy of Korea.

Today said economic cooperation group launched it session in Baku, and the visit of Korean officials aims at discussing execution of agreements achieved during the May summit.

В"During the summit President of Azerbaijan Ilham Aliyev underlined the importance of thorough partnership in IT field and exchange of experience with Korea in order to boost economic development in the country. After that Korea did its best in this respectВ", said Korean official.

Mr Gul said Korean delegation comprises 61 representatives of 34 governmental and non-governmental organizations to take actions in Azerbaijan until August 31. The meetings at the ministries will cover such fields as industry and investments, energy resources and power engineering, IT and communication, agriculture.

In order to extend relations, Korean Embassy to Azerbaijan involves two attaches, for economy and construction. The special department for Azerbaijan ha already been opened in the Ministry of Industry and Energy of Korea.

Korean official also reported the meetings he had held in Baku today morning. В"At the meeting in the Ministry of Economic Development we discussed specific issues on economic cooperation. First, we agreed to arrange regular meetings of the said group; second, funds will be allotted to support specific projects in AzerbaijanВ", said official.

Mr Gul said the parties had come to the agreement on cooperation in communication and agriculture sphere.

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