Baku: Azerbaijan announced that the adoption of an implementation framework for the Trump Route for International Peace and Prosperity (TRIPP) project is a crucial step toward commencing practical work in this area.

According to Anadolu Agency, Azerbaijan's Foreign Ministry spokesperson Aykhan Hajizada emphasized the significance of this development in the context of the commitment shown by the US to the agreements made at the Washington summit in August. Hajizada highlighted that fulfilling the obligations undertaken by Armenia is also essential.

The TRIPP framework document was released following discussions between Armenian Foreign Minister Ararat Mirzoyan and US Secretary of State Marco Rubio in Washington. The transit project aims to connect mainland Azerbaijan with its Nakhchivan Autonomous Republic through Armenia, based on a declaration signed on August 8 by Armenian Prime Minister Nikol Pashinyan, Azerbaijani President Ilham Aliyev, and US President Donald Trump.

The framework outlines that the 'TRIPP Development Company' will oversee the development and implementation of the infrastructure, with the US holding a controlling stake and Armenian oversight of reserve matters. The initial term for the company's development rights is set at 49 years, with Armenia offering the US a 74% share while retaining 26%. The agreement is expected to be renewed for another 50 years, with Armenia's share increasing to 49% through additional equity.

The project will manage various infrastructures, including rail, road, energy, and digital, along designated transit routes in Armenian territory. Armenia will maintain full sovereignty over all project areas, ensuring the enforcement of its laws and regulations in compliance with domestic and international standards.