Less than a month after committing $201 million (€175 million) to a Trans-Caspian investment fund, Washington has convened regional officials and business leaders in New York to turn the Armenia-Azerbaijan peace agreement into concrete trade and infrastructure projects. The event, titled “Prosperity Through Peace: Investing in the Trans-Caspian Trade Route and TRIPP”, signals a deliberate shift from diplomatic engagement to commercial implementation.
The gathering, held on the sidelines of the United Nations General Assembly, brought together more than 40 companies and senior figures from the region. Among them were Azerbaijan’s Foreign Minister Jeyhun Bayramov and his Armenian counterpart Ararat Mirzoyan, alongside US Assistant Secretary of State Brendan Hanrahan, Special Envoy Steve Witkoff, Republican Senator Steve Daines, and officials from Georgia and all five Central Asian states—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
According to Armenian press reports, Minister Mirzoyan stressed “the historic significance of the August 8 peace summit, held with decisive U.S. involvement, in establishing peace between Armenia and Azerbaijan and unblocking regional communications.” The summit, brokered with heavy American input, has opened the door to a broader economic agenda that Washington is eager to nurture.
From peace agreement to investment opportunity
The meeting placed the Trans-Caspian Enterprise Fund at the centre of attention. The fund, backed by $201 million in US government money, is designed to act as a catalyst for private investment along the Middle Corridor—the trade route that links Central Asia across the Caspian Sea, through Azerbaijan and Georgia, to Turkey and the rest of Europe. Mark Cameron, Deputy Assistant Secretary in the State Department’s Bureau of South and Central Asian Affairs, described it as a “private non-profit entity” during his address at the 7th Caspian Business Forum in New York.
“US attention to the region has never been higher, and it’s not hard to see why,” Cameron said. “The common theme is the optimism about what is possible.” His remarks reflect a broader American strategy to embed the region more firmly in global supply chains, reducing reliance on routes that pass through Russia or Iran.
Azerbaijan’s Deputy Foreign Minister, Yalchin Rafiyev, who also attended the forum, called TRIPP “an important project” that would deliver not only economic and commercial value but also serve as “an initiative that brings peace to the region with shared interests for all countries.” For Baku, the corridor is a chance to cement its role as a transit hub and to attract foreign capital beyond its hydrocarbon sector.
The new business of Eurasian connectivity
TRIPP is closely tied to the Middle Corridor, a route that has gained strategic importance as European and Asian businesses seek alternatives to traditional shipping lanes and overland paths. Earlier this year, the US Trade and Development Agency told Euronews that Azerbaijan’s geographical position made it an “indispensable hub” on the Trans-Caspian route. That assessment is now being translated into concrete project discussions.
US officials have been exploring opportunities in several sectors, including electricity transmission, energy, artificial intelligence infrastructure, cybersecurity, and digital connectivity. The aim is to create a commercially viable corridor that can attract private capital, rather than relying solely on government aid. The fund’s structure as a non-profit entity is intended to de-risk early investments and signal confidence to private investors.
The push comes at a time when the European Union is also deepening its engagement with Central Asia and the Caucasus. Brussels has signed partnership agreements with several Central Asian countries and is funding infrastructure projects along the Trans-Caspian route. The US initiative, however, is distinct in its focus on peace dividends—linking the Armenia-Azerbaijan settlement to tangible economic benefits for all parties involved.
For Armenia, the reopening of regional communications could unlock new trade links with Turkey and Azerbaijan, ending decades of isolation. For Azerbaijan, the corridor enhances its status as a bridge between Asia and Europe. For Georgia, it offers an additional transit revenue stream. And for Central Asian states, it provides an outlet to global markets that bypasses Russia.
The New York meeting was a first step in what Washington hopes will be a sustained effort to build a business case for the corridor. Whether the optimism translates into large-scale private investment remains to be seen, but the political momentum is unmistakable. As one participant put it, the region is no longer just a diplomatic talking point—it is becoming a marketplace.
