Withdrawal of troops from occupied territories is profitable for Armenia: Azerbaijani FM

"The formula is simple - withdraw the troops and communications will open. You will see great opportunities not only for Azerbaijan, but also for Armenia," Mammadyarov said.

The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. Armenian armed forces have occupied 20 percent of Azerbaijan since 1992, including the Nagorno-Karabakh region and 7 surrounding districts. Azerbaijan and Armenia signed a ceasefire agreement in 1994. The co-chairs of the OSCE Minsk Group - Russia, France, and the U.S. - are currently holding the peace negotiations.

However, economically, the withdrawal of troops and resolution of the Nagorno-Karabakh conflict is more profitable for Armenia than Azerbaijan, the minister said.

"I think we must continue to explain to Armenia that after the troops leave, its economy will profit first and foremost," Mammadyarov said.

"In this event, Armenia will receive political dividends," Mammadyarov said.