TODAY.AZ / Business

Korean shipbuilding companies want to cooperate with Azerbaijan

12 September 2017 [12:02] - TODAY.AZ

By Azernews

South Korean shipbuilders are interested in cooperation with Azerbaijan in maritime navigation.

Korean deputy ambassador Kwon Dong-seok told reporters that cooperation in this area will be discussed during the forthcoming visit of a delegation of representatives of 10 major South Korean companies to Baku in September.

Great attention is being paid to this area in Azerbaijan, the country is acquiring ships in large quantities, Dong-seok noted.

A trade mission of the Embassy of South Korea is currently preparing a visit of representatives of Korean companies, specialized in the shipbuilding sector, to Baku.

Negotiations will take place within the Azerbaijani-Korean business meeting, to be held on September 13 in Baku.

Representatives of such companies as Yelim Paint Spray, Mattron Corporation, Dongsan Valve, Jin Gu Engineering, Kwangwoon, Keonsae High Pressure, Daedong Marine Tech, MSTech and others will arrive in Azerbaijan to participate in the negotiations.

As the diplomat said Korean companies also show interest in industrial parks.

Total trade with Korea in the 1H 2017 was $23.77 million ($146.130 –export, $23.622 million import).  

At the time Baku was one of the largest ports of Eastern Europe. Therefore, the city has enterprises involved in all areas of navigation. The only exception was shipbuilding, since the largest and necessary tankers, steamships and much more had to be purchased from abroad. But in 2013 the problem resolved with the inauguration of Baku Shipyard LLC, the most modern shipbuilding and ship-repair facility in the Caspian Sea.

This enterprise is aimed at elimination Azerbaijan's dependence on imports in shipbuilding and, finally, to modernize the Caspian flotilla.

The yard is capable of constructing various vessels ranging from offshore support vessels, general cargo vessels, tug boats, crane vessels, specialized vessels and passengers vessels to tankers.

It has a capacity to produce 25,000 tons throughput per annum of steel works for new buildings and able to undertake 80 -100 vessels repairs and conversion of various types.


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