Azerbaijan, World Economic Forum eye bilateral co-op

By Azernews

By Ayya Lmahamad

World Economic Forum President Borge Brende has met with Azerbaijan's Economy Minister Mikayil Jabbarov, Digital Development and Transport Minister Rashad Nabiyev and State Oil Company's Acting President Rovshan Najaf, during his official visit to Azerbaijan.

Economic cooperation

During the meeting with Mikayil Jabbarov, the parties noted Azerbaijan's fruitful partnership with the World Economic Forum and the country's active participation in a number of initiatives of the Forum.

It was noted that Azerbaijan's President pays special attention to expanding ties with the World Economic Forum.

The minister noted that as a result of successful cooperation with the World Economic Forum and the Fourth Industrial Revolution Network, the Azerbaijan Network Center was launched.

Noting that sustainable development is closely linked to the requirements of the Fourth Industrial Revolution (4IR), the minister expressed confidence that the activities of the Center will contribute to the rapid development of the country on the basis of advanced technologies and the expansion of regional digital cooperation.

The sides emphasized the importance of raising awareness of 4IR technologies and the digital economy, as well as building competitive human capital in this area.

In turn, Borge Brende expressed satisfaction with the bilateral cooperation, stressing that Azerbaijan's development is in line with global challenges.

He noted that the establishment of the network of the Azerbaijan Center of the Fourth Industrial Revolution will create conditions for the development of partnerships with leading countries in this area and expand the use of 4IR technologies.

Additionally, the parties discussed strengthening of relations with the World Economic Forum, acceleration of the introduction of international experience in Azerbaijan in the field of 4IR technologies and other issues of mutual interest.

Digital transformation

During the meeting with Rashad Nabiyev, the sides exchanged views on current issues of cooperation between Azerbaijan and the World Economic Forum.

It was noted that the creation of the 4th Industrial Revolution Center of the Forum will play an important role in diversifying the country's economy and attracting investments.  

The parties discussed digital transformation, innovation and cybersecurity, and exchanged views on potential areas of cooperation.

Noting that digital transformation is a priority for Azerbaijan's government, the parties were briefed on the measures taken by the ministry in this direction.

Cooperation with SOCAR

During the meeting with Rovshan Najaf, the parties discussed the development of existing relations and prospects for cooperation between SOCAR and the World Economic Forum.

Najaf noted that SOCAR is a long-term partner of the World Economic Forum and is interested in continuing cooperation and participation in future forum events. He emphasized that the two SOCAR enterprises, Petkim and STAR, became one of the most digitalized enterprises in the Global Lighthouse network of the World Economic Forum.

"Digitalization is defined in the SOCAR Corporate Strategy until 2035 as one of the priority directions of the company's development. In this regard, the launch of the Digital Center of the Fourth Industrial Revolution in Azerbaijan opens up new prospects for expanding cooperation between the Forum and SOCAR," he said.

In turn, Borge Brende said that the Center in Baku will conduct research in the field of artificial intelligence, digital trade, etc., noting that new opportunities are opening up for bilateral cooperation with SOCAR.

He also noted that energy supply is one of the main issues on the agenda of the countries of the world, and stressed the interest in expanding cooperation in the development of renewable energy sources and other energy projects.