The Economic Importance of the South Caucasus Zangazur Corridor

Fariz Ismailzade and Bahruz Babayev

MPRA Paper from University Library of Munich, Germany

Abstract: Azerbaijan, Russia, and Armenia signed a trilateral declaration to end the Nagorno-Karabakh conflict in November 2020. The declaration put an end to the conflict in Karabakh and laid the groundwork for future cooperation, stability, and security in the South Caucasus and the Caspian region. The South Caucasus is at a crossroads of transportation routes connecting Russia and India, as well as Europe and China. The region also acts as an energy corridor, carrying energy supplies from the Caspian region to the western energy market. For Azerbaijan, one of the most significant achievements of the November trilateral declaration was the inclusion of the article on the opening of all regional transport routes, including the Zangazur corridor, which connects Azerbaijan with Turkey via Armenia and is currently under discussion. The opening of the Zangazur corridor means the opening of trade routes linking Central Asia, the Caspian, Azerbaijan, and Armenia from the Pacific to Turkey. It is also an opportunity to expand the railway network between Russia, Azerbaijan, Turkey and Armenia in order to increase regional trade volume. This policy brief discusses the economic importance of the South Caucasus' Zangazur Corridor in terms of reaching lasting peace, connectivity and integration in the South Caucasus and acceleration of local development. It also argues that the Zangazur Corridor will be instrumental to future South Caucasus reconciliation and economic cooperation.

Keywords: Zangazur corridor; Azerbaijan; Armenia; transportation corridors; regional cooperation (search for similar items in EconPapers)
JEL-codes: F5 (search for similar items in EconPapers)
Date: 2021-05-25
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