On September 15, Vitebsk / Olga Bogacheva - BELTA /. The Vitebsk region has great potential in the economic sphere. This opinion was expressed today at a meeting with the Chairman of the Vitebsk Regional Executive Committee, Alexander Kosinets, by the Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Belarus, Kang Won Sik, BELTA correspondent reports. According to the ambassador, industry and other sectors of the economy are well-developed in the Vitebsk region. The region's favourable geographical location also opens up great prospects. "Vitebsk occupies an important place in logistics and transport. And in the future, this significance will only increase," stressed Kang Won Sik, also paying due attention to Vitebsk's rich cultural heritage. "The world-renowned artist Marc Chagall, highly revered by Koreans, was born here, which makes this city very attractive from a tourist perspective," he noted. Thanks to its broad economic potential, the Vitebsk region is of great interest to the Republic of Korea, stated Kang Won Sik, promising to make every effort to inform representatives of his country's business circles about the region's opportunities. For a deeper understanding of the Vitebsk region's potential, the Ambassador of the Republic of Korea, during his two-day visit, will familiarise himself with the capabilities of the "Vitebsk" Free Economic Zone, its resident enterprises, and visit the sights of the regional centre, including the Marc Chagall Museum. In addition, the Chairman of the Regional Executive Committee invited him to participate in the International Investment and Innovation Forum, which will be held in Vitebsk in October, and the International Festival of Arts "Slavianski Bazaar in Vitebsk". "We are ready to provide the most comprehensive information about the Vitebsk region and are open to cooperation in any sector of the economy," stressed Alexander Kosinets. The foreign trade turnover of the Vitebsk region with the Republic of Korea for January-July 2011 amounted to $3.9 million, or 222.4% compared to the same period last year. Since 2006, foreign trade turnover has increased 1.5 times, and the balance has remained negative for six years. The main export volumes are accounted for by supplies of fibreglass. Optical instruments and fibreboard are also supplied. Polyisobutylene, transistors, petroleum jelly, spare parts for sewing equipment, synthetic and cotton fabrics for clothing, and fittings are imported. There are no enterprises with Korean capital in the region. -0-