Analytical assessment of the economic significance of the Zangezur Corridor in the context of regional integration

Abstract

The objective of this article is to evaluate the economic potential of the Zangezur Corridor, its possible impacts on macroeconomic indicators, and its strategic role in integration into the regional transport system through analytical and quantitative approaches. Within the scope of the study, the potential effects of opening the corridor on key economic indicators - such as GDP growth, the development of the non-oil sector, the increase in transit cargo flows and revenues, the expansion of export services, the rise in investment inflows, and employment growth - are analyzed. Furthermore, the strategic importance of the corridor is explored in terms of its interaction with the Middle Corridor route, opportunities for increasing regional trade volume, and the strengthening of Azerbaijan’s position as an international transit hub. Additionally, the study assesses the existing risks, institutional constraints, and infrastructural challenges associated with the implementation of the project, while identifying optimization and adaptation strategies aimed at mitigating these risks and enhancing the project's efficiency.