Azernews.Az

By Ayya Lmahamad

The center for analysis and coordination of the Fourth Industrial Revolution under Azerbaijan's Economy Ministry and Dubai future foundation have signed a memorandum of understanding.

The memorandum provides for cooperation in the application of digital solutions and technologies of the Fourth Industrial Revolution, Economy Minister Mikayil Jabbarov wrote on his official Twitter page on November 3.

"Flexible adaptation to the challenges of the Fourth Industrial Revolution is of particular importance for the rapid adoption of advanced technologies and the service of citizens and business interests," he wrote.

Azerbaijan's delegation led by Jabbarov is on an official visit to the UAE on November 2- 5 to attend the eighth meeting of the joint intergovernmental commission.

Earlier, a protocol of the meeting of the joint Azerbaijan-UAE intergovernmental commission on economic, trade, and technical cooperation, as well as a memorandum between the Azerbaijani Agency for Small and Medium Businesses Development and the Dubai Chamber, were signed in Dubai.

Currently, Azerbaijani products are showcased at the Global Village International Fair in Dubai.

The trade turnover between the two countries amounted to $33.8 million during the first nine months of the year. Of the total turnover, exports amounted to $10.1 million, while the imports to $23.6 million.

The Azerbaijani Center of the Network of Centers of the Fourth Industrial Revolution of the World Economic Forum, which started operating on April 1, 2021, contributed to the development of the digital ecosystem in the country. The Fourth Industrial Revolution is an important platform for developing a green economy and attracting investments, giving impetus to the rapid implementation and application of technologies.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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