Both states have an unresolved conflict (Nagorno-Karabakh) that doesn't seem to attract decisive international mediation/moderation efforts.

Azerbaijan is (judging by superficial info such as budget and personnel) likely militarily superior and this asymmetry is likely to become more extreme.

Armenia's economy is suffering due tot he poor relations with its neighbours Turkey and Azerbaijan, its difficult geographical situation, the lingering conflict.
Azerbaijan otherwise has easily available revenues from oil exports.


I've heard and read rumour that the conflict could soon become hot again.

Examples include European delegation members returning from Baku and recounting war rhetoric not unlike what was heard a few weeks before Georgia tried to gain control of South Ossetia.



I assume it's worth the effort and time to keep an eye on this. Maybe others can contribute to this thread with info that's beyond google's reach?