U.S. Secretary of State Marco Rubio visited Yerevan on May 26 for a trip that lasted approximately 40 minutes, holding meetings with Armenian officials before departing from Zvartnots International Airport. The Armenian Report’s Ani Khachatryan was at Zvartnots covering Rubio’s arrival and departure. During the visit, the United States and Armenia signed a framework agreement connected to the Trump Route for International Peace and Prosperity, known as TRIPP, a regional infrastructure and transit initiative aimed at expanding transport and economic links across the South Caucasus.
The agreement links the future implementation of the TRIPP project to the Armenia-Azerbaijan peace process, normalization efforts between Armenia and Turkey, and wider regional stability efforts. It follows the Aug. 8, 2025 joint declaration signed in Washington by Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev in the presence of U.S. President Donald Trump.
According to the framework agreement, the project would include railways, roads, oil and gas pipelines, fiberoptic infrastructure, and electricity systems crossing Armenian territory. The initiative is also intended to create a transport connection between mainland Azerbaijan and its Nakhijevan Autonomous Republic through Armenia.
The document states multiple times that Armenia would retain full sovereignty, territorial integrity, and jurisdiction over all TRIPP-related territory inside its internationally recognized borders. The agreement describes the project as operating “on the basis of respect for sovereignty, territorial integrity, and jurisdiction of the Republic of Armenia.”
The agreement also states that both governments view TRIPP as a mechanism intended to support regional peace, stability, economic integration, and trade development while creating economic opportunities for Armenian businesses during both construction and operational phases.
Under the proposed structure, a TRIPP Development Company, or TDC, would oversee implementation of the initiative. A U.S.-linked entity known as TDC US would hold a 74% ownership stake, while Armenia would own 26%. TDC US would be incorporated in Delaware as a subsidiary of the U.S. International Development Finance Corporation, while the joint venture itself would be registered in Armenia.
The agreement states Armenia’s ownership share could later increase to 49% if both sides agree to extend the arrangement after the initial 49-year term, which could be prolonged for an additional 50 years. Separate subsidiaries known as Special Purpose Vehicles would also be created to manage individual sectors such as rail, roads, energy, and pipelines.
The framework grants the future TDC exclusive land use and development rights inside TRIPP implementation zones for 49 years once the project areas are finalized. Armenia also agreed to adopt legal deviations related to procurement procedures, joint stock companies, and public-private partnerships to facilitate the operation of the project structure.
At the same time, the agreement states Armenia would remain the sole grantor of concessions and that all remaining rights would return to Armenia without cost if the project expires or ceases operations. Armenian authorities would also retain control over emergency response, border security, customs, immigration, law enforcement, and taxation inside Armenian territory.
The document states Armenia agreed to use private operators for customer-facing services at border crossings within TRIPP implementation zones, subject to mutual approval between Armenia and the TDC. It also outlines tax exemptions connected to the initiative, including exemptions for dividends distributed from the TDC to the U.S. entity while it remains wholly owned by the U.S. government.
The United States stated it intends to help secure financing for TRIPP projects through public and private investment mechanisms, subject to funding availability and approvals. The agreement also references earlier U.S.-Armenia cooperation agreements signed after Armenia’s independence in 1992.
According to the framework, disputes related to the agreement would be resolved through consultations between the two governments. The agreement will enter into force after both countries complete their internal approval procedures and exchange diplomatic notes confirming ratification.
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