Baku:Azerbaijan's Ministry of Economy and Spain's IE University have signed a Framework Collaboration Agreement in the city to establish and develop an Economic Observatory.

According to Azerbaijan State News Agency, the agreement was formalized by Deputy Economy Minister Samad Bashirli and IE University Executive President Santiago Íñiguez de Onzoño. The collaboration aims to facilitate joint research on economic diversification, productivity, and competitiveness, fostering dialogue among government, business, and academia.

The newly established Observatory will focus on monitoring economic trends, assessing growth factors, and conducting international comparisons. Its research priorities will be aligned with Azerbaijan's economic objectives and IE University's academic expertise.

IE University, based in Spain, offers a range of educational programs, including undergraduate, postgraduate, doctoral, and executive education, with an emphasis on education, research, innovation, and international cooperation.