Baku and Yerevan have reached an agreement on the content of a peace treaty. The document comprises 17 points and aims to serve as a basis for the lasting resolution of mutual claims and for settling the situation between the countries.

But hurdles remain. Azerbaijan also said Armenia’s constitution must “eliminate the claims against the sovereignty and territorial integrity of Azerbaijan,” as a prerequisite to allow for the signing of the peace treaty.

Armenia's Foreign ministry said on Thursday that a draft peace agreement with Azerbaijan had been finalised from its side and that it was ready to discuss a date and location to sign a final deal. Armenia and Azerbaijan have fought a series of wars since the late 1980s,

The United Arab Emirates has welcomed the announcement by the Republic of Azerbaijan and the Republic of Armenia on concluding peace negotiations, and expressed hope that this historic step would consolidate bridges of communication,