The signing of the Armenia-Azerbaijan peace treaty will have a tremendous impact on the two countries and the entire region. It will create a completely new situation, where opportunities for trade and economic interaction will increase automatically, Toivo Klaar, the special representative of the EU for the South Caucasus, said in an interview with Report.

Overall, peace will create a new environment in which both countries and ordinary Armenians and Azerbaijanis will be able to reap the benefits from interacting and cooperating, which will allow them to get to know each other again and will help turn the page of enmity once and for all, for the benefit of future generations, he noted.

“This will also impact how the EU can operate in the region, as it will enable us to engage in more regional cooperation including all three South Caucasus countries.

As has been said on many occasions, the EU is ready to support dividends for peace in all sectors through different instruments, with a particular emphasis on regional connectivity and transport, depending on the agreements between the parties,” he said.

At the same time, peace would likely make Azerbaijan and Armenia more attractive also to other foreign direct investment, he added.