Armenia’s contribution to the TRIPP Development Company (the operator of the Trump Route) primarily consists of development rights and infrastructure use, Armenian Foreign Minister Ararat Mirzoyan said commenting on a meeting with US Secretary of State Marco Rubio in Washington, during which they approved a joint declaration on a framework agreement between the two countries for the implementation of the Trump Route for International Peace and Prosperity (TRIPP), Report informs referring to Armenian media.
According to Mirzoyan, the current distribution of shares is for 49 years and is linked to the project’s business model and investment payback period. After the agreement is extended for another 50 years, the ratio of shares will change and become virtually equal, he added.
He also noted that Armenian security and customs officials will be physically present along the TRIPP transit routes passing through the country. All sovereign powers in the area of ​​border and customs control will be exercised exclusively by Armenian state bodies within the so-called back office functions, he added.
He said that the institutionalization of peace with Azerbaijan and the TRIPP are interconnected, each a consequence of the other: the stronger the peace, the more successful the TRIPP will be, and the more successful the TRIPP, the stronger the peace will be.
The minister noted that visible results “on the ground” are expected in late summer or early fall.
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