The Armenian government approved the draft law on the ratification of the strategic cooperation agreement between the Republic of Armenia and the United States of America regarding the TRIPP project.
The draft was presented at the Armenian government meeting on July 16 by the Minister of Foreign Affairs of Armenia, Ararat Mirzoyan.
According to him, the adoption of this decision marks the beginning of the ratification process of the agreement.
“With this decision, we are essentially starting the process of ratifying the framework agreement on strategic cooperation between the Republic of Armenia and the United States of America regarding the TRIPP project,” said Mirzoyan.
The minister reminded that the framework agreement was initially signed on May 26, 2026, in Yerevan by him and U.S. Secretary of State Marco Rubio.
According to the agreement, Armenia and the U.S. will establish the TRIPP Development Company.
It will be able to establish special purpose companies for the implementation of separate projects in various areas of Armenia.
The TRIPP Development Company will receive land use and construction rights for an initial period of 49 years.
During this period, 74% of the company's shares will belong to the U.S., while 26% will belong to Armenia.
After the expiration of 49 years, the parties may extend cooperation for another 50 years.
“In the case of extension, it will be ensured that the Republic of Armenia will have 49% of the company's shares,” said Mirzoyan.
