Minister: Azerbaijan - one of few countries where WEF regional center to be created

  29 January 2020    Read: 667
  Minister: Azerbaijan - one of few countries where WEF regional center to be created

The World Economic Forum (WEF) is a unique platform and Azerbaijani President Ilham Aliyev is among the world leaders who are invited annually and participate in special sessions of this forum, Azerbaijani Minister of Economy Mikayil Jabbarov said.

Jabbarov made the remark in Baku during the Diqqet merkezinde ("In the Spotlight") telecast of the Azerbaijani Public Television and Radio Broadcasting Company. 

The minister stressed that taking the Sustainable Development Goals as a basis, Azerbaijan is trying to maximally use the WEF opportunities.

“This is becoming possible in this format for a number of reasons: first, because the world business leaders, representatives of the companies interested in the region, heads of international development structures, delegations attend the forum,” said the minister.

“The direct discussions related to the economies of various countries are held, and important investment projects are presented; in brief, opinions are formed and decisions are made at the bilateral and multilateral meetings during the discussions, sessions within the forum,” Jabbarov said. "Therefore, I believe that the great importance of the World Economic Forum for Azerbaijan lies in the wide use of these opportunities."

The economy minister stressed that Azerbaijan is one of the few countries where a regional center of the Davos Economic Forum will be created.

"We live in the period of the fourth industrial revolution. This entails the transformation of economic and social life. On the other hand, the state faces new challenges. The digitalization of the economy, the development of the innovation and artificial intelligence sectors, as well as new economic sectors, requires the implementation of an appropriate state policy to increase the knowledge and skills of citizens needed in these areas," the minister said.

Project GLO"At the same time, one of the main issues is the creation of an ecosystem that encourages innovative thinking and innovative business," continued Jabbarov. "The founder of the Davos Economic Forum Klaus Schwab came up with an initiative to cooperate with countries with high potential, recognizing the importance of these areas and encouraging this in their domestic politics."

"Azerbaijan is one of the rare countries with which a corresponding document is signed. As part of the document, discussions will be held with the relevant Azerbaijan’s structures and organizations over the next months,” Jabbarov said. “Following the discussions, the development and expansion of digital commerce defined as a priority area as part of the fourth industrial revolution, presented projects and the application of state policy in this area will be evaluated.”

The minister added that such a regional center is being created in the region for the first time.

“Speaking of the region, I mean the Caspian littoral states, the countries located in Central Asia and the South Caucasus,” Jabbarov noted.

“As for the significance of this issue, first of all, it should be emphasized that development of the innovation economy is one of the priorities in the country. By the corresponding decision of Azerbaijani President Ilham Aliyev, the position of Assistant to the President of Azerbaijan - Head of the Department of Economic Issues and Innovative Development Policy, who is responsible for these issues, has been created at the Presidential Administration of Azerbaijan. This is a clear indicator of the importance that the state attaches to this area,” said the minister.

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