Russia and Armenia will cooperate in the settlement of the Nagorno-Karabakh conflict between Azerbaijan and Armenia and will co-ordinate their security efforts in the Southern Caucasus. The Russian and Armenian presidents, Dmitry Medvedev and Serzh Sargsy

It says that Moscow and Yerevan are ready to develop “bilateral military cooperation not targeted at third countries” and stresses that both countries accept “the key role of the United Nations in the prevention and peaceful settlements of conflicts”.

Economic cooperation was also discussed at the meeting. Both leaders expect trade between Armenia and Russia to reach billions of dollars in the next two years.

“It's in our joint interests to strengthen cooperation and, in future, to continue increasing investment and to cooperate un the manufacturing and technology spheres, especially when such powerful Russian businesses as Gazprom, VympelKom and VTB are successfully operating in Armenia. We've also agreed with Serzh Sagsyan to develop more big partnership projects,” Medvedev said.

Meanwhile, the Armenian President said that both countries will be looking for new ways to increase the scale of cooperation.

“The main result of the talks is that our dialogue is based on mutual trust, which fully reflects the high strategic level of our relations. I am convinced that co-operation in energy, science, atomic and hi-tech spheres are the most promising directions in our relations,” Sargsyan stated.