Baku, Azerbaijan, March 1
By Khalid Kazimov - Trend:
Iran and South Korea have discussed expansion of cooperation in the nuclear sector.
Visiting South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan has met with Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi in Tehran to discuss the expansion of cooperation between the Islamic Republic and Seoul, ILNA news agency reported.
During the meeting Salehi said the Korean minister's recent visit to Tehran shows Seoul's serious will to boost trade and economic ties with Iran.
Pointing out South Korea's nuclear capabilities, Salehi welcomed cooperation between the two nations to develop Iran's nuclear industry.
In turn, Joo Hyung-hwan also called for the expansion of bilateral ties and welcomed mutual cooperation between Tehran and Seoul.
Joo Hyung-hwan further invited Salehi to pay a visit to Seoul and said South Korean President Park Geun-hye is also expected to visit Tehran.
During Joo Hyung-hwan's visit, Iran and Korea discussed several agreements and signed a basic agreement to attract funds worth a total value of ˆ5 billion to be spent on Iran's development projects.
South Korea is a key trade partner of Iran in Asia. Seoul imports as much as 10 percent of its required oil supplies from Iran.
The current volume of trade between the two countries stands at around $9 billion which is expected to be increased to well above $10 billion in the near future.