Diplomat said whereas there is a great trade potential, the trade turnover cannot be considered satisfactory. According to him, President of Korea Roh Moo-hyun's visit to Azerbaijan on 10-13 May opened up new opportunities for expanding cooperation, AzerTAg informs.

Stressing that President Aliyev was invited to pay an official visit to the Republic of Korea in late 2006, diplomat said agreements "On Protection and Promotion of Investment" and "On Elimination of Double Taxation on Incomes and Property" are expected to be signed during the visit. Korean diplomat was curious about the preparation of these documents.

Minister, in his turn, said the draft agreement has been prepared and submitted to the Foreign Ministry. He found a need to step up the efforts of both sides to complete the draft agreement and present it for signing.

Minister of Taxes updated the ambassador on favorable tax environment created for foreign businessmen in Azerbaijan, structure and work of tax bodies and fight against tax evasion.

The meeting also focused on prospects of bilateral relations between tax services of both countries.