Azerbaijan, South Korea deepen coop

Azerbaijan and South Korea have signed an agreement on economic cooperation.

Azerbaijani Economic Development Minister Shahin Mustafayev has met with Ambassador Extraordinary and Plenipotentiary of Korea to Azerbaijan Lee Ji Ha, the Ministry of Economic Development told Trend on Tuesday.

At the meeting, Mustafayev informed the ambassador about the economy of Azerbaijan, the reforms and progress, and stressed that the mutual visits of the two presidents, held meetings give impetus to the development of cooperation between the countries.

The minister noted that trade and economic relations are expanding, trade turnover between the two countries in 2011, compared with the previous year, increased by 72.5 percent, and in January-July this year - by 25 percent.

Mustafayev noted the development of relations between the two countries in other areas as well.

Ambassador, in turn, stressed his country's interest in the economy of Azerbaijan and expressed confidence in further development of trade and economic relations between the two countries.

Mustafayev and Lee Ji Ha signed an agreement "On economic cooperation between the governments of Azerbaijan and Korea."