BAKU, Azerbaijan, February 13. Azerbaijan's score in the Global Innovation Index (GII) is around 2%, Chairman of the Supervisory Board of the Baku Stock Exchange Farid Akhundov said at an event dedicated to the PASHA Bank's Initial Public Offering (IPO), Trend reports.
According to him, the GII compares countries with each other, and it also serves as a basis for comparing countries, including their capital markets.
"This indicator in the index reflects the ratio of the market capitalization of listed companies to gross domestic product. Due to PASHA Bank's entry into the market, this ratio for Azerbaijan is expected to increase from approximately 2% to around 3%. This may seem insignificant in percentage terms, but it's a significant step for the market," he added.
The Global Innovation Index is an annual ranking of countries by their capacity for and success in innovation, published by the World Intellectual Property Organization (WIPO).