BAKU: Trade turnover between Azerbaijan and South Korea last year is estimated at approximately $430 million, executive director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO) Yusif Abdullayev said, Trend reports.

He made the remark during an event within a purchasing mission from South Korea to Azerbaijan.

“According to AZPROMO statistics, trade turnover between Azerbaijan and South Korea last year amounted to about $430 million. Automobiles constitute a significant part of Azerbaijan’s imports. They are especially popular in the city of Baku, where these cars find high demand,” he noted.

According to him, AZPROMO has very extensive cooperation with the Korea Importers Association (KOIMA), Korea Trade and Investment Promotion Agency (KOTRA), and Korea International Trade Association (KITA).

“For instance, thanks to KOTRA’s efforts, some Korean manufacturers have expressed interest in investing to expand enterprises in various sectors of Azerbaijan’s industry, including the aluminum in
dustry. The meetings and dialogues held confirm that these partnerships contribute to increasing investments in Azerbaijan’s economy,” he added.

Source: Trend News Agency