A symposium titled “Zangezur Corridor: Its Impact on Turkey-Azerbaijan Economic Relations” was held by the Association of Azerbaijani Businesspeople in Turkey, hosted by Istanbul Bilgi University.

On December 14, 2023, the Association of Azerbaijani Businesspeople in Turkey (TAİB) organized a symposium titled “Zangezur Corridor: Its Impact on Turkey-Azerbaijan Economic Relations” hosted by Istanbul Bilgi University.

The symposium discussed the history of the Zangezur Corridor, one of the most notable outcomes of the Second Karabakh War, its significance at local, regional, and intercontinental levels, its role in stimulating local economic development in the countries along its route, its advantages, weaknesses, and elements that could pose threats.

The symposium began with opening speeches by Azerbaijani Member of Parliament and Former Secretary General of the Organization of Turkic States Ramil Hasan, and TAİB Chairman of the Board and Chairman of InvestAZ Yatırım Menkul Değerler A.Ş. Elshan Guliyev, followed by a panel moderated by Prof. Dr. Kenan Dağcı, Head of the Department of International Relations at Istanbul Bilgi University.

Panelists Dr. Farid Shafiyev, Chairman of the Center for Analysis of International Relations under the President of the Republic of Azerbaijan; Dr. Orkhan Baghirov, Senior Researcher at the Center for Analysis of International Relations; Prof. Dr. Hasan Ünal from Istanbul Bilgi University’s Faculty of Law; and Assoc. Prof. Dr. Vugar İsmayılov, Vice Chairman of TAİB and Faculty Member at Istanbul Medeniyet University, each contributed to the topic with their presentations, and the event concluded with a Q&A session.

The speakers addressed the following points:

● The Zangezur Corridor, one of the most notable outcomes of the Karabakh War, holds significance at three dimensions: local, regional, and intercontinental.
● The corridor’s fundamental local impact is its role in stimulating local economic development in the countries along its route.
● Indeed, the corridor creates economic impact by passing through underdeveloped regions of Turkey, Azerbaijan, and Armenia.
● At the regional level, the corridor is expected to connect Azerbaijan’s long-occupied southwestern regions; at the same time, it is projected to bring economic growth to Turkey’s eastern regions affected by the fight against terrorism.
● Furthermore, the Zangezur Corridor holds intercontinental importance as it connects the easternmost and westernmost parts of the world, serving as a more reliable and shorter trade route compared to its alternatives.
● The corridor presents a significant opportunity for transit transportation projects between Asia and Europe through Azerbaijan, and Azerbaijan will be strengthened as a transportation and logistics hub in Eurasia.
● However, there are weaknesses such as the lack of a clear plan for the corridor works and the continuation of security issues in the region, as well as the unresolved borders between Azerbaijan and Armenia.
● The influential Armenian lobbies in the US and Europe also pose a significant threat to the opening of the corridor.