Armenia’s Economy Minister Welcomes Turkish Investments

Armenia’s Minister of Economy, Gevorg Papoyan, has denied reports that Turkish companies are planning to enter Armenia under the “Trump’s Path” (TRIPP) project. Speaking at the National Assembly, Papoyan said there is no truth to the claims that Turkish or Azerbaijani financial groups will use the program to secretly operate in Armenia.

Papoyan explained that Turkish companies have already been active in Armenia since 2012–2013. They are mainly involved in the retail clothing market through several brands. According to the minister, this activity has been transparent for years. “They are represented in Armenia’s retail clothing network in the form of several brands. Moreover, in the case of one—very directly; that is, not intermediated, but very directly. I welcome these investments, as any peace between neighbors should be strengthened with financial investment if we want sustainable peace in the region,” he said.

The minister added that future Turkish investments should not be seen as a threat but as part of a normal process of regional peacebuilding. “I consider it very normal that in Armenia, for example, in the event of peace, after opening the borders, investments will come, including Turkish ones, and we will go there, invest. If you think we can be a viable state otherwise, look at the history of the state over the past three decades,” Papoyan said.

Papoyan said that Armenia’s cooperation under the “Trump’s Path” project is only with the United States. “Our cooperation regarding TRIPP is solely with the United States. As for, for example, a hotel of some brand from another country, such as a Turkish brand, opening here—yes, it can open. Why not?” he said.

The minister also addressed recent criticism from former President Robert Kocharyan, who argued that the TRIPP project would only help Armenia if it connects through the Yeraskh–Julfa railway to reach Russia. Papoyan dismissed this claim, saying Kocharyan’s information was incorrect. “Who said it’s not like that? Where did Kocharyan get that information? The section of railway from Yeraskh to Nakhijevan is only about one kilometer long, and it will definitely be reactivated. Do you really think they’ll rebuild dozens of kilometers but leave out that one?” he said.

Papoyan stressed that Armenia is not giving away any road to another country. He said the new route is being built entirely within Armenia’s sovereign territory and will remain under Armenian control.

He also mentioned that during his upcoming visit to Washington, he will meet with the U.S. Deputy Secretary of Commerce to discuss issues related to the TRIPP project and the possible entry of American companies into Armenia’s market.

The “Trump’s Path” project, officially known as the Trump Route for International Peace and Prosperity (TRIPP), was included in a seven-point joint declaration signed on August 8 by Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev in Washington. The agreement aims to create a strategic trade and transport route through Armenia’s southern Syunik region, giving Azerbaijan commercial access to Nakhijevan for 99 years, with the possibility of renewal.

Later, on September 11, Prime Minister Pashinyan clarified that Armenia is not leasing any land for 99 years, but only granting construction rights to the U.S. side for the project.

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