Azerbaijan, Korea eye prospects for cooperation

By Azernews

By Rashid Shirinov

Azerbaijan and South Korea have discussed prospects for cooperation as a delegation led by the Vice-Speaker of the National Assembly of Korea, Park Joo-sun, has met with the members of the Azerbaijan-Korea inter-parliamentary relations working group in Baku on September 7.

The head of the parliamentary working group, Malik Hasanov, stressed successful development of bilateral relations between Azerbaijan and Korea and emphasized the historically friendly ties between the two countries.

He noted that Azerbaijan has been closely observing the rapid development of Korea in high tech industry, adding that the two countries are famous with their rich natural resources and there is a good potential for further development of the cooperation.

Hasanov also informed the delegation about the Armenia-Azerbaijan Nagorno-Karabakh conflict, providing detailed data on the current situation. He stressed that the conflict is the major threat for the entire region.

Park Joo-sun, in turn, said that the visit is a good chance for the Korean delegation to get acquainted with Azerbaijan closer, considering more than 25 years of friendly relations between the two countries.

He also stressed the international prestige of Azerbaijan, emphasizing the prospects of cooperation between the two countries in humanitarian, cultural and tourism spheres.

Park Joo-sun added that Korea is keen on further expanding of exchange of experience in various spheres with Azerbaijan.

The Vice-Speaker also noted that Azerbaijan has successfully hosted and attended several landmark international events.

During the meeting, the sides also exchanged views on expanding cooperation in political, inter-parliamentary, economic, cultural and humanitarian spheres, as well as ways of solving regional conflicts.

Previously the delegation was received by President Ilham Aliyev, who praised a very good level of bilateral ties between the two countries. 

The diplomatic relations between Azerbaijan and the Republic of Korea were established on March 23, 1992. The relations became more intensive after the establishment of the Embassy of the Republic of Korea in Azerbaijan in 2006 and the Embassy of Azerbaijan in Korea in 2007.

The trade turnover between Azerbaijan and Korea totaled $72.17 million last year, while $72.05 million accounted for the import of Korean products. Korea's exports to Azerbaijan are mainly automobile, plastic, and electronic products, while it purchases oil, aluminum, and copper products from Azerbaijan. There is also a great potential for cooperation in the tourism sector between the countries.

Azerbaijan was declared by the Korean government as priority country for economic cooperation for 2011-2013. In 2015, the Joint Intergovernmental Commission on Economic Cooperation was established between the Azerbaijan and Korea. Last June, the first meeting of Joint Economic Commission was held in Seoul.