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In the Caucasus, Competition Will Limit Cooperation

Feb 7, 2018 | 09:30 GMT
The Caucasus countries of Azerbaijan, Armenia and Georgia serve as trade and transit corridors to and between neighboring Russia, Iran and Turkey and could eventually connect markets in Europe and China.

The Caucasus countries of Azerbaijan, Armenia and Georgia serve as trade and transit corridors to and between neighboring Russia, Iran and Turkey and could eventually connect markets in Europe and China.

(BEYHANYAZAR/iStock)

In terms of their overall population and economic size, the three Caucasus countries of Georgia, Armenia and Azerbaijan are relatively small. Fewer than 17 million people live in the South Caucasus, and the total GDP in the region is just over $60 billion. The region's economic importance outweighs its small size, however. The Caucasus is a strategic transcontinental land bridge, and Azerbaijan is a significant producer of oil and natural gas. Azerbaijan, Armenia and Georgia also serve as trade and transit corridors to and between bigger countries -- including not only neighboring Russia, Iran and Turkey, but also with the potential to increase connections to even larger and more distant markets in Europe and China....

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