Azerbaijan-South Korea trade turnover increased by 2.6 times in 2018

  09 October 2019    Read: 695
 Azerbaijan-South Korea trade turnover increased by 2.6 times in 2018

The trade turnover between Azerbaijan and South Korea amounted to $227 million in 2018, which is 2.6 times more than in 2017, Azerbaijani Minister of Transport, Communications and High Technologies Ramin Guluzade said.

Guluzade made the remarks in Baku at the event on the occasion of the Day of the Foundation of the Republic of Korea and the Armed Forces Day of the Republic of Korea, Trend reports referring to the Azerbaijani Ministry of Transport, Communications and High Technologies.

During the event, Guluzade on behalf of the Azerbaijani government congratulated the Korean people and wished them progress, prosperity and peace.

The minister reminded that diplomatic relations between the countries were established in 1992.

He also noted that the two countries signed about 50 documents on cooperation in the fields of politics, economy, investment protection, e-government, an intelligent transport management system, emergency situations and other spheres.

Guluzade added that there is great potential for the development of cooperation between the two countries in the fields of information and communication technologies, smart transport, healthcare, industry, agriculture, energy, oil and gas.

The countries also work closely within a number of international organizations, in particular the UN, he said.

The minister emphasized that the Republic of Korea always supports Azerbaijan’s fair position on the Armenia-Azerbaijan Nagorno-Karabakh conflict based on international law and the country’s territorial integrity in the international arena.

"We highly appreciate the Republic of Korea's support for Azerbaijan’s territorial integrity," the minister said.

In conclusion, Guluzade expressed confidence in the further development and expansion of relations between the two countries.

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