A peace push backed by U.S. President Donald Trump leaves Azerbaijan and Armenia just one step from a final peace deal and is a paradigm shift in the strategically important South Caucasus region, a top Azerbaijani diplomat said on Saturday.

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

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".