Representation of Korean Trade and Investments Promotion Agency opens in Baku

The due announcement was made by KOTRA vice president Gyugsun Min at a press conference on the opening of the Baku office of the Korean Trade and Investments Promotion Agency (KOTRA).

He said within the years the commodity turnover between Azerbaijan and Korea may reach $1 bln, while in 2007 it made $30 mln and currently $465 mln.

He noted that the opening of the KOTRA office was caused by the economic state of Azerbaijan in the region, as well as its favorable location for transport and other regional projects.

"Such spheres as mechanical engineering and ship-building are highly developed in Korea and we are ready to cooperate with Azerbaijan in these spheres", noted he. Moreover, he spoke of Korea's interest in implementation of projects in the sphere of energy and oil refining.

President of Azerbaijan Export and Investments Promotion Foundation added in turn said that currently the Azerbaijani side considers several proposals of the Korean side on the middle level projects in chemical industry and pharmaceuticals.

/Day.Az/