15:57 - 12.01.2021

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January 12, Fineko/abc.az. A tripartite meeting between President Vladimir Putin of Russia, President Ilham Aliyev of Azerbaijan and Prime Minister Nikol Pashinyan of Armenia tooj place on 11 January.

ABC.AZ reports that after the meeting, the sides signed a statement which stresses that an entirely new situation, aimed at the restoration of transport communications, has developed in the region.

Commenting on the prospect of opening of regional communications, Vusal Gasimli, the head of the Center for Analysis of Economic Reforms & Communications, noted that Azerbaijan has created a new reality that defines the economic architecture of the region:

"Economic & mathematical calculations carried out at the Center show that the opening of communications and the development of trade & economic ties will bring benefit for both the region and individual countries. For example, as a result of the opening of communications on the gravity model, Turkey's share in Armenia's trade turnover may increase from 3% up to 13%, and Azerbaijan's share from the minimum up to 1% at the initial stage. At that, this will contribute to an increase of Azerbaijan's exports by AZN 1.2 bn, nonoil GDP by 2%, processing industry by 3%, and mining industry by 2.7%."