Armenian cabinet approves framework agreement on TRIPP

The government of Armenia at its July 16 meeting approved the draft framework agreement on TRIPP.

The framework agreement was signed in early June by Armenian Foreign Minister Ararat Mirzoyan and U.S. Secretary of State Marco Rubio.

After government approval, the document will be sent to the Constitutional Court for review of its compliance with the Constitution. Deputy Foreign Minister Vahan Kostanyan will represent the government’s interests before the court.

If the Constitutional Court issues a positive ruling, the agreement will be submitted to the National Assembly of Armenia for ratification.

The TRIPP project (Trump Route for International Peace and Prosperity — “Trump Route for International Peace and Prosperity”) envisions the creation of a strategic transit corridor through Armenia’s Syunik region. According to the published concept, the route will operate under Armenian jurisdiction and will not affect the country’s sovereignty. The United States may receive exclusive rights to develop the corridor for up to 99 years. A company is to be established in which the U.S. side will initially hold 74 percent of the shares and Armenia 26 percent, with the possibility of increasing Armenia’s stake to 49 percent upon extension of the agreement.

On May 26, during U.S. Secretary of State Marco Rubio’s visit to Yerevan, the sides initialed the framework agreement on strategic partnership under the TRIPP project as well as the charter of the comprehensive strategic partnership between Armenia and the United States.