Yerevan: Mediamax: Armenia's Foreign Minister Ararat Mirzoyan stated today that Armenia is beginning the process of ratifying the framework agreement on strategic cooperation regarding the TRIPP project.
At a government meeting, he noted that with the adoption of the decision, the project will be sent to the Constitutional Court in the established manner.
“If there is a decision by the Constitutional Court recognizing the obligations enshrined in the international treaty as compliant with the Constitution of Armenia, the legislative initiative of the government will be presented to the National Assembly in the established manner,” said Mirzoyan.
According to him, Armenia and the USA will also establish a TRIPP development company, which will receive the right to land use and construction in various areas of Armenia. This right will initially be valid for 49 years. The shares will be distributed as follows: 74% will belong to the USA, and 26% to Armenia.
“After the initial term expires, there is an opportunity to extend the agreement for another 50 years by mutual consent of the parties. In this case, Armenia will have 49% of the company's shares.
Armenia will maintain its full sovereignty and authority over the management of the state border, border control, customs administration, and all customs processes carried out on the territory of Armenia,” the Foreign Minister stated.
