(Reuters) -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.

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.