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World Economic Forum

Name of the organization

World Economic Forum (WEF)

General information about the organization
  • Establishment date:1971.

· In 1987, the European Management Forum was renamed to the World Economic Forum to expand its vision and provide a broader platform for dialogue.

  • Objectives:to promote activities that facilitate close cooperation in international industry to develop approaches to responsible and successful governance.
  • Founder and executive chairman: Klaus Schwab.
  • President:Borge Brende.
  • Headquarters:Geneva, Switzerland.
  • Membership:In 1976, the organization introduced a system of membership for “the 1,000 leading companies of the world”.

Information about cooperation between Azerbaijan and the organization

· The Ministry of Economy is actively involved in a number of initiatives of the World Economic Forum.

  • Azerbaijani Affiliate Centre of the WEF’s Network of the Fourth Industrial Revolution:

- The foundation of Azerbaijani Affiliate Centre of the WEF’s Network of the Fourth Industrial Revolution Centres’ was laid with the signing of the letter of intent by President of Azerbaijan and President of WEF on January 21, 2020 in Davos.

- On March 30, 2021, the Host Accord and founding agreements between the Government of the Republic of Azerbaijan and the WEF on the establishment of the Azerbaijani Centre of the Network of the Fourth Industrial Revolution Centres’ have been signed and become effective since April 1 of the mentioned year.

- This is the first such Centre established in CIS region. On February 23, 2022, the opening ceremony of the Azerbaijani Centre and an event on "Trends in the Fourth Industrial Revolution" were held.

  • Participation at the events and initiatives:

- The Minister of Economy Mikayil Jabbarov participated at the session on "Building a National AI Strategy" held on April 6, 2021 within the framework of the inaugural Global Technology Governance Summit (GTGS) organized by the Network of the Fourth Industrial Revolution Centres’ of the WEF.

- Mikayil Jabbarov, Minister of Economy participated at the Annual Meeting of WEF which was held under the theme "History at a Turning Point: Government Policies and Business Strategies" in Davos, Switzerland on May 22-25, 2022. Moreover, during the Annual Meeting, he attended and spoke at the "Strategic Outlook: Eurasia" session on May 23, as well as at the “Oil and Gas Community Dinner” on May 24.

- Mikayil Jabbarov participated at the 53rd Annual Meeting of the World Economic Forum (WEF), in Davos, Switzerland, on January 17-19, 2023 and participated in the session on "Work Consortium: Towards a New Vision of the Future of Work", as well as "The Future Generation industrial strategies" and "Leaders' joint meeting: current geopolitical landscape" sessions.

- First Deputy Minister of Economy Elnur Aliyev participated in the Development Summit of the DIF held in Geneva on May 2-3, 2023.

- The representative of the Ministry of Economy participated in the Fellowship Program within the strategic initiative "Vision for Eurasia" in 2020-2021. Furthermore, in 2020-2021, a representative of the Ministry of Economy was a participant in the Fellowship Program within the "Digital Trade" platform of the Fourth Industrial Revolution Center of the Forum.