(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 14. Azerbaijan
Industrial Corporation OJSC and South Korean companies signed a
memorandum, Trend reports.
The OJSC regularly holds meetings with foreign companies,
particularly investors, to enhance the value chain in various
business sectors, develop competitive products, diversify
portfolios, and establish new collaborations.
The Baku office of KOTRA (Korea Trade-Investment Promotion
Agency) encourages trade relations between Azerbaijan and South
Korea and supports direct investments by Korean companies in
Azerbaijan.
The Baku office supported the Korean Institute for Advanced
Engineering and Lemon Metal Inc. to enter the Azerbaijani
market.
This collaboration resulted in a meeting involving the
leadership of the Korean Institute for Advanced Engineering, Lemon
Metal Inc., the Azerbaijan Industrial Corporation OJSC, and its
subsidiary Azeraluminium LLC.
The meeting parties provided detailed information about their
respective structures, discussed prospects for collaboration in the
development of the aluminum industry, and the implementation of
joint projects.
A memorandum of understanding was signed between Azeraluminium
LLC and the Institute for Advanced Engineering, covering the
production of aluminum alloys, the establishment of research
centers, and other areas of cooperation.
The Institute for Advanced Engineering is a significant Korean
organization conducting research in the field of manufacturing
technologies.
Lemon Metal Inc., a subsidiary of Nedec Co. Ltd, specializes in
the production of aluminum materials, primarily special types of
aluminum alloys, supplying products globally to the automotive,
energy, telecommunications, and information technology
industries.
The meeting also agreed on a visit of the delegation to the
Ganja Aluminum Complex in Ganja city to get acquainted with the
production process.
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