DIGITAL ECONOMY: EMPOWERING AZERBAIJAN AND ITS ECONOMIC PARTNERS
April 28, 2023
At the 10th Global Baku Forum, H.E. Mikayil Jabbarov, Azerbaijan’s Minister of Economy, and H.E. Rashad Nabiyev, Minister of Digital Development and Transport, met with a GCEL delegation that included the Hon. Yves Leterme, former Prime Minister of Belgium, and Mr. Gregory Bird, GCEL Deputy Secretary General.
Discussions focused on how GCEL’s Digital Economy initiative can support Azerbaijan’s 2030 National Priorities by accelerating economic diversification and strengthening small and medium-sized enterprises (SMEs).
With its strategic location along major North-South and East-West trade corridors, including the Silk Road, Azerbaijan recognizes the importance of a more efficient and digitally connected transportation and trade ecosystem.
According to GCEL’s economic roadmap, deployment of the Digital Economy Platform could increase Azerbaijan’s GDP by nearly 39% by 2035, create approximately 400,000 jobs across manufacturing, agriculture, and services, reduce excess trade costs by USD 4.5 billion, increase goods trade by USD 1.5 billion, and generate nearly USD 15.6 billion in new e-commerce, e-finance, and e-insurance activity.
The initiative demonstrates how digital value-chain integration can enhance competitiveness, attract investment, and support long-term economic growth.
