Azernews.Az

Qabil Ashirov

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Armenia's parliament is holding an extraordinary session to discuss the establishment of a company tasked with implementing the TRIPP project, officially known as the Trump Route for International Peace and Prosperity.

Armenia Today reports that lawmakers are considering a package of seven draft laws aimed at establishing a legal framework for companies created under Armenia's international agreements in which the state holds an ownership stake of at least 25%.

The Armenian government had previously announced that the process of establishing a company to implement TRIPP would begin following the ratification of the framework agreement between Armenia and the United States.

The Cabinet of Ministers has proposed an accelerated review of the legislative package, with the second reading scheduled to take place within 24 hours of the first reading.

On November 10, Armenian President Vahagn Khachaturyan signed the law ratifying the framework agreement with the United States on the Trump Route for International Peace and Prosperity (TRIPP).

Earlier, on October 28, Armenia's National Assembly ratified the agreement with Washington. A total of 63 lawmakers from the ruling Civil Contract faction voted in favour, while 32 opposition lawmakers voted against it.

On August 8, Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan signed a joint declaration in Washington in the presence of US President Donald Trump.

The document envisages the opening of the Zangezur Corridor, referred to as the Trump Route, as part of efforts to restore regional connectivity.

In addition, the foreign ministers of Azerbaijan and Armenia initialled an Agreement on Peace and the Establishment of Interstate Relations.