US President Donald Trump announced he will host the leaders of Armenia and Azerbaijan on Friday for what he described as a "Historic Peace Summit" aimed at ending decades of hostilities between the two former Soviet republics.

Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev "will join me at the White House for an official Peace Signing Ceremony," Trump posted Thursday on his Truth Social platform.

Armenia and Azerbaijan have been sworn enemies for decades, fighting two wars over the disputed Nagorno-Karabakh region. Azerbaijan recaptured the territory from Armenian forces in a lightning 2023 offensive, prompting the exodus of more than 100,000 ethnic Armenians.

The two sides have engaged in multiple rounds of peace talks, including discussions last month in the United Arab Emirates, but a breakthrough has remained elusive.

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"These two Nations have been at War for many years, resulting in the deaths of thousands of people," Trump wrote, adding, “Many Leaders have tried to end the War, with no success, until now, thanks to ‘TRUMP.’ My Administration has been engaged with both sides for quite some time,” he added, praising the leaders for “doing the right thing.”

South caucasus corridor and economic potential

The US leader said Washington will also sign bilateral deals "with both Countries to pursue Economic opportunities together" in the South Caucasus.

Officials told the Associated Press (AP) that the agreement could bring an end to decades of conflict and reopen strategic transportation corridors across the South Caucasus that have been closed since the early 1990s.

The prospective deal would grant the US leasing rights to develop the Zangezur corridor, which Trump’s administration plans to name the Trump Route for International Peace and Prosperity. The route would connect Azerbaijan to its Nakhchivan region, separated from the rest of the country by a 32-kilometer (20-mile) stretch of Armenia’s territory.

The corridor is considered a strategic red line for Iran, a position repeatedly expressed by its officials.

Armenia and Azerbaijan’s decades-long dispute over Nagorno-Karabakh dates back to the Soviet era, when the mostly Armenian-populated region had autonomous status within Azerbaijan. As the Soviet Union disintegrated, tensions between Armenians and Azerbaijanis escalated into full-scale war.