Minister: Azerbaijan aims to produce high-value-added goods

The main goal and ambition of the Azerbaijani government is to increase the national economy complexity level, Economy Minister Mikayil Jabbarov said at the Baku ID (Baku Investment Day) festival.

According to Report, he explained that the goal is not simply to produce more goods and services, but to produce goods and services with high added value.

"In my view, the key to achieving this goal lies in combining talent, technology and the ecosystem. The human factor plays a decisive role when there is a favorable policy, environment and ecosystem," Jabbarov said.

The minister also highlighted the successful continuation of cooperation with the World Economic Forum (WEF).

"We are very pleased with our experience of cooperation with the World Economic Forum. It began several years ago with the signing of a memorandum between the head of state and the Forum's managing director and led to the establishment of the first office of the Centre for the Fourth Industrial Revolution in Azerbaijan. Personally, I had the honor of participating in the Jobs Acceleration Program. I believe that the topic at the center of our discussion is critically important not only for Azerbaijan, but for every economy," he added.

Jabbarov also noted that labor market requirements are changing rapidly: "If we talk about talent, the very concept of talent, even the definition of a literate or skilled professional, is changing right now, at this very moment as we speak. Although the topic has been framed through the lens of the labor market, I believe that this perspective may be somewhat limited. I am convinced that many people in this room recognize the broader implications of these changes."