BAKU, Azerbaijan, December 4. Azerbaijan and South Korea have discussed opportunities to deepen cooperation between their central banks, Trend reports.
The Governor of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, shared the details of the meeting in a post on his official X page.
“As part of our working visit to the Republic of Korea, we met with Chang Yong Rhee, Governor of the Bank of Korea.
During the meeting, we exchanged views on monetary policy and financial stability, payment systems, and sustainable finance. We also reviewed the implementation of innovative solutions and approaches in the financial sector.
Additionally, we discussed opportunities to further expand cooperation between the central banks of Azerbaijan and Korea, including the exchange of expertise and knowledge in various areas of central banking,” the post reads.
Azerbaijan and South Korea maintain robust economic relations, with Azerbaijan being South Korea's largest partner in the South Caucasus. A Joint Commission on Economic Cooperation facilitates collaboration, supported by KOICA and KOTRA offices in Azerbaijan. Key areas for cooperation include the energy sector, particularly renewable and green energy, and infrastructure projects like the Yevlakh-Ganja highway. Both nations are also exploring non-oil sectors and high-tech industries, benefiting from Azerbaijan's interest in South Korea's development experience. A solid regulatory framework supports these relations, highlighted by over 70 agreements signed since 2006.
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