The Government of Azerbaijan and the World Economic Forum (WEF) signed an agreement on establishing the Azerbaijani branch of the WEF’s Fourth Industrial Revolution centers' network, AzVision.az reports citing Trend.

According to the source, the document was signed by the WEF’s President Borge Brende and the Ministry’s Chief Mikayil Jabbarov.

The activities of the Azerbaijani branch, which began work on April 1, 2021, are based on the Memorandum of Understanding signed on January 21, 2020, within the WEF in Davos (Switzerland) by the President of Azerbaijan Ilham Aliyev and the WEF president.

“Such a centre is the first in the CIS. Its functions will be performed by ‘Center for Analysis and Coordination of the Fourth Industrial Revolution’ public entity under the Ministry of Economy,” noted the source.

The centre was established by the Azerbaijani president’s decree of January 6, 2021. The main goal of the centre is to make the most of the opportunities created by the Fourth Industrial Revolution to bring Azerbaijan into the number of the world's leading countries in this area.

“Therefore, cooperation with such a leading organization, as a network of centres of the Fourth Industrial Revolution, can be considered a successful start,” the source further noted.

The Fourth Industrial Revolution centres’ network was established by the WEF in March 2017. Having come to the conclusion that it was necessary to work together to adapt to the fast development rates through advanced technologies, the WEF began organizing similar centres managed by partners.

Currently, 13 centres of the Fourth Industrial Revolution are functioning, of which nine are subsidiary centres, three - centres managed by the WEF, and one is the network's headquarters in San Francisco.

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