Renewed fighting in Nagorno-Karabakh has derailed our positive bent toward the South Caucasus, at least for now. Global investors will have trouble seeing beyond the conflict. That is unfortunate. Armenia is set to benefit impressively from economic developments in next-door Iran. And while the commercial opportunity remains intact, political risk is suddenly relevant at the deal table. Most struggle to define precisely what that means in this case, given the Gordian knot of regional and international interests. But we doubt that global investors will wait around for the issue to sort out. Collateral damage may extend to Georgia, which acts as a trade hub for Armenia ■
Learn more at Al Jazeera.
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Image shows ruins of building previously shelled in this conflict. Credit: MichalKnitl at Can Stock Photo Inc.