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The Zangezur corridor between mainland Azerbaijan and Nakhchivan across southern Armenia, if re-opened, will carry greater economic significance for the connected states than its geopolitical implications in the short to medium term (see Part Two in EDM, April 13). The heretofore decades-long blockage of this passage has not only imposed a heavy economic burden on Azerbaijan but also on Armenia, as Yerevan had (in retaliation) lost its only rail link to Iran via Nakhchivan. The Center for Analysis of Economic Reforms and Communication (CAERC), an Azerbaijani government–affiliated think tank, calculates that the unblocking of these regional transportation links can increase Azerbaijan’s exports by 1.2 billion manats ($710 million), its non-oil-sector GDP by 2 percent, processing industry by 3 percent, and mining industry by 2.7 percent (Turan.az, February 17). Thanks to this route, Baku could also save $10 million from the national budget that is paid annually as subsidies to Aza

Georgia generalVusal gasimlySyunik zangezurAzal airlinesAsian infrastructure investment bankEuropean bankWorld bankInternational alertCaucasus railway companyCaucasus railwayPart twoEconomic reformsSouth caucasusMiddle corridorSouth caucasus railway companyAlthough turkey