BAKU, Azerbaijan, December 11. The McKinsey Global Institute assumes generation of additional revenue of $28 trillion, or 26 percent of global annual GDP, from women's full participation in the labor market alongside men by 2025, World Bank (WB) Chief Advisor on Gender Issues Shamsiya Mustafayeva said at an event on "Leadership excellence in advancing women's employment and career growth in Azerbaijan" today, Trend reports.
She pointed out that in 2022, 62 percent of women and 75 percent of men in Azerbaijan were participants in the labor market, with 58 percent of women and 71 percent of men employed.
"Overcoming these challenges is crucial for advancing Azerbaijan's socio-economic development strategy for 2022-2026, aimed at strengthening the economy and developing a competitive human capital base.
Women make up a significant portion of the country’s talent pool, and harnessing their potential can stimulate economic growth.
Research by the International Monetary Fund shows that by fully developing the labor potential of women, countries achieve significant macroeconomic successes," Mustafayeva noted.
To note, the event on "Leadership excellence in advancing women's employment and career growth in Azerbaijan" features participation from WB Manager for Azerbaijan Stefanie Stallmeister, Head of Communications at Azerbaijan Railways Aybeniz Ismayilova, Lead Specialist at the Human Resources Department of Baku Port Nurana Muradova, and others.
The event will showcase the key results of a gender assessment conducted at Baku Port and Azerbaijan Railways, achievements in increasing women's employment in various Azerbaijani companies, and introduce an online course on workplace health and safety developed by the World Bank in Azerbaijani.
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