Saturday, 17 April 2021 08:15 GMT

Azerbaijan launches local branch of WEF's 4th Industrial Revolution centers' network [PHOTO]


(MENAFN - AzerNews) By Trend

The Government of Azerbaijan and the World Economic Forum (WEF) signed an agreement on establishing Azerbaijani branch of the WEF's Fourth Industrial Revolution centers' network, Trend  reports referring to a source in the country's Economy Ministry.

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 center 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 center was established by the Azerbaijani president's decree of January 6, 2021. The main goal of the center 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 centers of the Fourth Industrial Revolution, can be considered a successful start, the source further noted.

The Fourth Industrial Revolution centers' 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 centers managed by partners.

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

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