Baku, Seoul eye energy cooperation prospects

By Azernews

Azerbaijan's Energy Minister Parviz Shahbazov and Korea's Ambassador Lee Eun Yong have discussed the current state and future prospects of bilateral cooperation in the energy field.

During the meeting, the parties touched upon the development of diplomatic relations, and trade and economic relations between the two countries.

Shahbazov stressed that the meetings held last year during the visits of high-level delegations from Korea to Baku gave impetus to the development of relations between the two countries and created great opportunities for further cooperation in the energy sector.

In turn, the ambassador noted that Korean companies have high technological capabilities and great experience in the field of energy, including the use of renewable energy sources. Lee Eun Yong expressed the interest of Korean companies in participating in the projects being implemented in Azerbaijan.

The sides also discussed other issues of mutual interest.

Azerbaijan and Korea are cooperating in various fields. Thus, Korean companies successfully operate in various economic fields in Azerbaijan. Korean companies played a role in the modern architectural image of Baku as well as in the implementation of major industrial infrastructure projects.

The trade turnover between the two countries amounted to $227.6 million in 2021.