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

President Donald Trump will meet the leaders of Azerbaijan and Armenia to sign a joint peace declaration aimed at ending decades of war at a White House meeting Friday, as well as pacts giving the US rights to develop a transit route through the South Caucasus.

The transit corridor, which connects Azerbaijan to Turkey as well as to Nakhchivan, will be named the Trump Route for International Peace and Prosperity. The US has secured a 99-year development lease for the route. Planned infrastructure includes highways, railways, pipelines and fibre-optic cables.