Economic Appearance of South Caucasus Countries on the Twenty-fifth Anniversary of Independence

Abstract

The South Caucasus geography is one of the most complex regions in the world that embraces ethnic, religious, political, cultural and social differences. The features it possesses have the potential to lay the groundwork for the conflicts of power and interests of global and regional actors. The region is particularly important in terms of the intersection of Eastern-Western energy and transportation corridors and having the Caspian Basin energy resources. Following the dissolution of the Soviet Union, the creation of three independent states in this region (Georgia April 1991, Armenia August 1991 and Azerbaijan October 1991) caused new economic, military and political values to emerge in the South Caucasus. This study will analyze the economic outlook of the Southern Caucasus Countries during the twenty-five years they spent from their independence to the present day in light of various indicators comparatively.