Center for Analysis of Economic Reforms and Communications executive director Vusal Gasimli has said that Azerbaijan and Korea will conduct joint research in the sphere of international trade, Azerinews reports.

He made the remarks during the meeting with Korean Ambassador Lee Eun Yong.

The executive director noted that the increase in trade between the two countries, and the expansion of cooperation in trade and investment will make a positive contribution to the economic development of the countries.

“An agreement was reached to establish links between the Center and the relevant analytical centers of Korea to conduct joint research in these areas,” he said.

Moreover, Gasimli briefed on the economic reforms carried out in Azerbaijan, the application of strategic management, the development strategies, as well as the monitoring and evaluation carried out by the Center in the sphere of economic reforms, research and innovative projects.

Stressing that the opening of the Zangazur corridor will increase the potential of the South Caucasus region in terms of international trade and transportation, he noted that joint research with Korean analytical centers will serve the interests of both countries.

In turn, the ambassador expressed satisfaction with the level of relations between the two countries. He also expressed confidence in the success of the joint projects implemented between the Center and the Embassy.

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.