Why, besides TRIPP, was the company TRIPP+ created? Mirzoyan explains

The company TRIPP+ is not an alternative to the TRIPP project but is being created to service it.

This was stated by Armenian Foreign Minister Ararat Mirzoyan at a meeting of the Armenian government.

On July 16, the Armenian government at its meeting approved the draft on ratification of the framework agreement on the implementation of the TRIPP transport project. The agreement will be submitted to the Constitutional Court of Armenia, where one of Mirzoyan’s deputies will speak on behalf of the government.

The foreign minister recalled that an Armenian-American company, TRIPP Development Company, was created to implement the project, with its founders being the government of Armenia and TRIPP Development Company US (from the American side).

As Mirzoyan noted, during the negotiations the American side stated that the U.S. government cannot directly act as a founder of the company.

As for TRIPP+, it is being created to support the project and attract investments there, meaning it will play a servicing role for TRIPP Development Company, the minister explained.

The head of Armenia’s foreign ministry recalled that, according to the agreement, TRIPP Development Company will receive the right to land use and construction of facilities in the Meghri region (as well as in other zones on the territory of Armenia necessary for the implementation of the project) for a period of 49 years. The American side will hold 74% of the shares in the project, and the Armenian government 26%. Upon expiration of the 49 years, with the consent of the parties, the contract may be extended for another 50 years. In this case, Armenia’s share in the project will increase to 49% without any additional obligations.

According to the framework agreement on the implementation of the project, Armenia will retain full sovereignty over the state border, border control, law enforcement control within the country, as well as customs and migration control.

"Duties at the border control point can be divided into front office (direct communication with arrivals – ed.) and back office (decision-making place – ed.). A private operator may be involved for the front office. Such practice is already applied in Armenia, and those interested can familiarize themselves with the details in the document," Mirzoyan said.

According to him, the framework agreement repeatedly mentions that the entire process is implemented with full observance of the sovereignty, jurisdiction and territorial integrity of Armenia.

Mirzoyan also recalled that the agreement was initialed by himself and U.S. Secretary of State Marco Rubio on May 26 in Yerevan, and a few days later, on June 1 and 4, they signed the document in Washington and Yerevan. Remote and non-simultaneous signing is permissible under the legislation of the parties, the head of the Armenian Foreign Ministry added.

To compile the complete package of documents on TRIPP, only two documents remain to be signed – the shareholders’ agreement and the charter of TRIPP Development Company.

The TRIPP project (Trump Route for International Peace and Prosperity) provides for the creation of a strategic transit corridor through Armenia’s Syunik region. It is emphasized that it will operate exclusively within the framework of Armenian jurisdiction and does not affect the country’s sovereignty. Under the project, Armenia will grant the United States exclusive long-term rights for up to 99 years to develop the route through which Azerbaijan expects to establish a land connection with Nakhchivan. It is envisaged to create a company with a controlling stake for the United States while Armenia has control mechanisms on fundamental issues. At the first stage, the United States is offered a 74% share, Armenia 26%, with the possibility of increasing Armenia’s share to 49% upon extension of the agreement.

On May 26, during a short-term visit of U.S. Secretary of State Marco Rubio to Yerevan, Armenia and the United States initialed a framework agreement on strategic partnership within the TRIPP project ("Trump’s Path for International Prosperity") and the Charter of comprehensive strategic partnership between the two countries.

Source: Sputnik Armenia