Korean President Roh Moo-hyun starts a visit

President Roh Moo-hyun is to have a summit meeting with Azerbaijani President Ilham Aliyev Thursday to discuss ways of boosting bilateral economic cooperation, especially in the field of energy, his aides said.

According to Ryu Jin, Korea Times correspondent, he arrived in Baku Wednesday, after ending a four-day state visit to Mongolia, accompanied by first lady Kwon Yang-suk and a large entourage of cabinet ministers and businessmen.

Seated on the shore of the Caspian Sea, Azerbaijan is a petroleum-rich country, nicknamed the "Land of Fire", boasting estimated deposits of 7 billion barrels of petroleum and 850 billion cubic meters of natural gas.

Roh is the first South Korean head of state to visit Azerbaijan since South Korea established diplomatic relations with Azerbaijan in March 1992. Bilateral trade between the two nations reached some $32 million as of 2005.

During his three-day stay, Roh will discuss ways to promote trade and investment between the two countries, including South Korean firms' participation in joint oil and gas development projects in the Caspian Sea, the aides said.

Roh will also hold a luncheon meeting with business leaders from both countries and will visit the Sangachal Oil Terminal before attending a state dinner hosted by the Azerbaijani president.

On Friday, he is scheduled to meet Ogtay Asadov, Azerbaijan's parliamentary speaker, before heading for the United Arab Emirates. Roh will return home Monday, after wrapping up his nine-day overseas trip.

/www.hankooki.com/