EUROPEAN UNION FOR PEACE DIALOGUE AND RECONCILIATION IN THE SOUTH CAUCASUS NEW REALITIES FOR "PEACE TALKS"

Abstract

20 years of Nagorno-Karabakh conflict has brought economic losses to the counterparts. The data from "International Policy Digest", shows the economic loss of Armenia as 600-700 million $ in export, international and regional projects including "One belt, One Road", and transit capability. Today, the "peace treaty" brought the social, political, cultural, and economic restoration to the South Caucasus. Therefore, the paper serves a comprehensive analysis for the importance of economic trade in the case of Azerbaijan and Armenia as a key to sustain peace and security in the region. "One third of EU member states consider Azerbaijan a strategic partner," insight by Charles Michel, president of the European Council, also assured the role of EU institutions as significant in fostering extensive regional cooperation. The paper aims to prove new realities in the ongoing "peace talks" and the impact on the economic reconciliation and development of the region.

Keywords

• south caucasus
• eu
• azerbaijan
• armenia
• security