BAKU, Azerbaijan, April 26. Talks held last year in Azerbaijan’s Baku between high-ranking delegations of South Korea and the Azerbaijani side gave impetus to the development of relations between the two countries and created broad opportunities for further bilateral cooperation in the energy sector, Trend reports with reference to Azerbaijan’s Energy Ministry.
These issues were also discussed at a meeting between Azerbaijan’s Energy Minister Parviz Shahbazov and Ambassador of South Korea to Azerbaijan Lee Eun Yong.
Sides discussed trade and economic relations between the two countries, also the current state and prospects for cooperation in the energy sector.
Ambassador noted that Korean companies have great technological capabilities and rich experience in the energy sphere, including the use of renewable energy and expressed interest in their participation in projects implemented in Azerbaijan.
According to Azerbaijan State Customs Committee, trade with South Korea exceeded $57.3 million in 1Q2022, while this figure in the same period last year amounted to $46.2 million (an increase of 24.04 percent over the year).