Global Data Pod: The Changing Chessboard of the South Caucasus

About this episode

The episode discusses the economic impacts of the Middle East war on Azerbaijan and Armenia, the upcoming parliamentary elections, and the potential for peace in the South Caucasus.

In this episode, we unpack how the war in the Middle East has been shaping the economic outlook for Azerbaijan, and why — perhaps surprisingly — it has generated some positive spillovers for Armenia too. We explore how Armenia continues to outperform growth expectations, while its external sector undergoes a structural shift toward IT and financial services that most investors are still overlooking. We then turn to the June 2026 parliamentary elections and why their outcome is directly tied to the pace of the Armenia-Azerbaijan peace process and the prospect of opening the Turkish border for the first time since 1993. After more than three decades of conflict, a new chapter may finally be within reach in the South Caucasus. Speakers Khamza Sharifzoda, EM, Economic and Policy Research Fatih Akcelik, EM, Economic and Policy Research Moderator: Nicolaie Alexandru-Chidesciuc, EM, Economic and Policy Research This podcast was recorded on 13 May 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5250547-0, https://www.jpmm.com/research/content/GPS-5207471-0…

People in this episode

Host: Nicolaie Alexandru-Chidesciuc

Guests: Khamza Sharifzoda, Fatih Akcelik

Topics covered

• South Caucasus
• economic outlook
• Armenia-Azerbaijan peace process
• IT and financial services
• parliamentary elections
• Middle East conflict

Keywords

• Azerbaijan
• Armenia
• Middle East
• economic growth
• IT sector
• financial services
• peace process
• parliamentary elections

Mentioned in this episode

Places: Azerbaijan, Armenia, Turkey

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