Armenia and U.S. establishing TRIPP Development to implement 'Trump Route'

Armenia and the United States have agreed to establish the TRIPP Development Company to ensure the development and implementation of the the 'Trump Route for International Peace and Prosperity' infrastructure.

"The TRIPP is intended to establish unimpeded, multimodal transit connectivity on the territory of Armenia," the statement reads.

According to the U.S. State Department's roadmap, the TRIPP is to be "developed within designated transit routes in Armenian territory, in locations to be detailed in the future, while maintaining Armenia’s full sovereignty over all project areas within Armenia’s sovereign territory".

The TRIPP Development Company, with U.S. controlling stake and Armenian oversight of reserve matters, is intended to ensure the development and implementation of the TRIPP infrastructure.

The joint venture will be able to build and operate road and rail facilities along the route, as well as the necessary energy and digital infrastructure.

The company is expected to be responsible for the development of the TRIPP and is expected to be granted the right to development for an initial term of 49 years. Armenia intends to offer the U.S,. a 74% share and to hold itself a 26% share in the TRIPP Development Company.

"This arrangement is expected to be extended for an additional term of 50 years with a grant of additional equity to the government of Armenia bringing its share to 49%," the statement reads.

The document notes that Armenia retains authority over taxes, customs duties, and other mandatory fees on trade and transit, as well as authority over border control and customs. The Republic intends to optimize border processes, implement digital document management, pre-arrival processing, "single-window" systems, and other measures.

"It opens Armenia for business, allows it to prosper economically, and in no way violates Armenia's sovereignty," U.S. said. Secretary of State Marco Rubio said.

This framework does not impose, nor does it intend to impose, any legal commitments or obligations on the U.S. or Armenia.

The TRIPP (Armenia's section of the Zangezur corridor) will connect Azerbaijan to Nakhchivan through the Armenian territory by a 42-kilometer road in south Armenia.