Baku: Youth account for a significant 50% of labor resources in the Central Asia and Caucasus region, underscoring their strategic importance for development in Islamic countries, according to Ramil Mammadov, Lead Advisor for Finance, Competitiveness, and Innovation at the World Bank. Speaking at the 'Youth Without Borders: A Driving Force for Shared Regional Prosperity' session during the Islamic Development Bank Annual Meetings in Baku, Mammadov highlighted the untapped potential of the youth.

According to Azeri-Press news agency, Mammadov noted that the employment rate among youth in the region is between 15% and 30%, while approximately 20% of young people are not engaged in education, employment, or training (NEET). These figures are comparable to those in Eastern European countries. Despite these challenges, Mammadov expressed optimism about the potential of the youth, emphasizing the importance of the labor factor in determining economic productivity, alongside capital and technology.

Mammadov further pointed out that around half a million students from the region pursue their studies abroad, with 20% opting for Trkiye as their destination. He underscored the limited intra-regional education and labor mobility, suggesting a significant opportunity for development in this area.