Language in the "peace deal" will give the U.S. exclusive rights to develop a key transit route that will be named after Trump.

Azerbaijan and Armenia signed a U.S.-brokered peace agreement on Friday during a meeting with U.S. President Donald Trump that would boost bilateral economic ties after decades of conflict and move them toward a full normalization of relations.

The leaders of Azerbaijan and Armenia signed an agreement aimed at ending decades of conflict as they were hosted by President Donald Trump at the White House on Friday. Azerbaijan's President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan shook hands after the US president described the event as "historic".