Like father, like son? If Ilham Aliyev is elected president of Azerbaijan on Wednesday, the family will become the first ruling dynasty in a former Soviet republic. But there are concerns Aliyev Junior is not enough of a chip off the old block and lacks the charisma of his former KGB chief father. The transfer of power appeared a foregone conclusion when Haydar Aliyev appointed his only son Prime Minister in August. Azerbaijan is on the western shore of the Caspian sea, with a population of eight million. In 1988, ethnic Armenians in Azerbaijan's western territory of Nagorno Karabakh rebelled against capital Baku and, after a brutal war, gained de facto independence. Playboy-turned-politician Ilham has been groomed for leadership over recent years but many analysts doubt he has the ruthlessness, appetite for power or political acumen to fill his father's shoes. 80-year-old Haydar - hospitalised in the US with heart problems - is credited with bringing stability to a volatile region and his son sees no reason to change tack: "Why this policy should be changed? If living conditions of the people increase, if we fight with poverty, if the inflation rate is two per cent what is the reason for changing the policy?" he said. But the main opposition hopefully says Azerbaijan's eight million people are tired of corruption, human rights abuses and the Aliyev clan. While the country is oil rich, almost half the population lives below the official poverty line. Azerbaijan has seven billion barrels of proven oil reserves, around point seven per cent of the worldwide supply. Oil and gas make up 90 per cent of the country's exports and the world's oil giants including ExxonMobil and BP have been quick to take advantage. Given Azerbaijan's oil wealth, the election will be closely watched by the United States and the Caspian state's neighbours in Russia, Turkey and Iran. All see the country as a key power in the Trans Caucasus region, that also includes Georgia and Armenia. **PHOTO CAPTION*** An Azeri rope-walker performs during an October 13, 2003, rally in support of presidential candidate Ilham Aliyev in front of the poster depicting the ailing president Haydar Aliyev pointing at his son Ilham (R) with a question 'I chose him, and you?' at Baku stadium. (REUTERS/Sergei Karpukhin.)