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Akbar Novruz

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The Trump Route for International Peace and Prosperity (TRIPP) initiative could strengthen regional connectivity and support trade and investment over the medium term, according to S&P Global Ratings.

“While the framework agreement on TRIPP establishes key principles for governance and sovereignty within the project, its implementation remains at an early stage. The project area, financing arrangements and precise terms of the concessions have yet to be agreed,” S&P analysts said.

The agency also said the outcome of Armenia’s parliamentary elections could provide fresh momentum for the normalization of relations with Azerbaijan and increase the prospects for the signing and implementation of a peace agreement.

“In 2025, Armenia and Azerbaijan initialed the text of a peace agreement, but its signing and implementation remain dependent on the fulfillment of a number of conditions. In the view of experts, the prospects for progress toward formalizing the agreement could improve after the election period ends,” S&P Global Ratings said.

According to the agency, further normalization of relations between Baku and Yerevan could stimulate transit and trade across the region.

The TRIPP initiative is intended to establish a new transport connectivity framework in the South Caucasus, with its potential implementation expected to have implications for regional trade, investment and transit routes.