United States to hold 74% stake, Armenia 26% in TRIPP Development Company: Government approves draft law on ratification of agreement

The Armenian government approved the draft law on the ratification of the Framework Agreement on Strategic Cooperation between the Republic of Armenia and the United States of America concerning the Trump Route for International Peace and Prosperity (TRIPP) project.

Armenian Foreign Minister Ararat Mirzoyan presented the draft at the government meeting on July 16.

According to Mirzoyan, the adoption of the decision launches the agreement’s ratification process. The draft will be submitted to the Constitutional Court and, should the Court find the obligations stipulated in the agreement to be consistent with the Constitution, it will then be submitted to the National Assembly.

“With this decision, we are essentially launching the process of ratifying the Framework Agreement on Strategic Cooperation between the Republic of Armenia and the United States of America concerning the TRIPP project. Following the adoption of the decision, we will submit the draft to the Constitutional Court of the Republic of Armenia in accordance with the established procedure. Should the Constitutional Court rule that the obligations stipulated in the international treaty do not contradict the Constitution of the Republic of Armenia, we will then apply to the National Assembly in accordance with the established procedure and move the discussion of the matter to the National Assembly,” Mirzoyan said.

The minister recalled that the framework agreement was initialled in Yerevan on May 26, 2026, by himself and U.S. Secretary of State Marco Rubio, and was subsequently signed in Washington on June 1 and in Yerevan on June 4.

“To address any possible questions, let me note that this type of non-simultaneous, remote signing of agreements is provided for under international practice and the legislation of the Republic of Armenia and is an accepted practice,” Mirzoyan emphasized.

The Armenian foreign minister noted that the signing of the agreement had been preceded by two other important documents: the declaration signed on August 8, 2025, in the presence of U.S. President Donald Trump by Armenian Prime Minister Nikol Pashinyan and the President of Azerbaijan, as well as the document defining the TRIPP implementation framework, signed by the U.S. Secretary of State and the Armenian foreign minister on January 13, 2026.

“This intergovernmental framework agreement further elaborates on the agreed details and areas of cooperation and is fully consistent with the two documents I have mentioned. Why am I stressing this? Because, both in the case of the August 8 declaration and the January 13 document known as the implementation framework, there was speculation that the intergovernmental agreement might ultimately contain provisions inconsistent with those documents. As we can now see, this agreement is not only fully consistent with the principles that were made public, recorded, enshrined and signed, but the framework agreement itself also repeatedly refers to both the August 8 and January 13 documents,” Mirzoyan said.

According to the foreign minister, two additional documents must be agreed upon in order to complete the documentary process for the establishment of TRIPP: the shareholders’ agreement and the charter of the TRIPP Development Company.

Under the framework agreement, Armenia and the United States aim to strengthen peace, stability and prosperity in the South Caucasus through the development of transportation, infrastructure, and regional and global trade.

“The agreement establishes that Armenia and the United States intend to contribute to and strengthen peace, established stability, and the development of peoples and states in the South Caucasus by developing transportation, transport infrastructure, and regional and global trade. This is also repeatedly stated in the framework agreement,” Mirzoyan noted.

Under the agreement, Armenia and the United States will establish the TRIPP Development Company. The company will be able to establish special-purpose companies and involve other partners in order to implement individual projects in different zones within Armenia.

Mirzoyan assured that the entire process, the TRIPP Development Company and its subsequent activities would be carried out with full respect for Armenia’s sovereignty, jurisdiction and territorial integrity.

The TRIPP Development Company will be granted land-use and development rights in the relevant zones for an initial period of 49 years. During that period, the United States will hold a 74% stake in the company, while Armenia will hold 26%.

At the end of the 49-year period, the cooperation may be extended for a further 50 years by mutual agreement between the parties. In that event, Armenia’s stake will increase from 26% to 49%.

“If the term is extended, it will be ensured that the Republic of Armenia holds 49% of the company’s shares. In other words, the Republic of Armenia’s 26% stake will be increased to 49%. In order to receive the 49% stake in the event of an extension, the Republic of Armenia will not be required to take any additional action, make any additional investment or assume any additional obligation,” Mirzoyan said.

The foreign minister emphasized that Armenia would retain full sovereignty and jurisdiction over the management of the state border, border control, customs administration and all customs procedures carried out within Armenian territory.

“In accordance with its domestic legislation and international agreements, Armenia will continue to be responsible for the following: security and law-enforcement activities, border control and border security, customs and migration control, the transfer of taxes and duties to the state budget, state information systems, state administrative functions and oversight. As you can see, this list fully covers and can dispel all the possible concerns that may genuinely have arisen among the Armenian public during the numerous discussions, as well as the malicious speculation we have witnessed in recent months,” Mirzoyan emphasized.

He added that a division of responsibilities based on a “front office-back office” model could be applied in carrying out certain functions, while private operators could be involved in front-office operations.

“A division of responsibilities based on the front office-back office principle may be established for the performance of these functions, and private operators may be engaged for the front office. This is a practice that already exists in the Republic of Armenia, and its details are also set out in the January 13 document known as the TRIPP implementation framework,” the foreign minister concluded.