The Peace Treaty is ready for signing,” an Armenian Foreign Ministry statement on Thursday said in announcing that Yerevan has accepted Baku’s latest proposals regarding the remaining contentious points of the language of a peace treaty between Armenia and Azerbaijan.

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.

Armenian and Azerbaijani officials said on Thursday that they had agreed the text of a peace agreement to end nearly four decades of conflict between the South Caucasus countries, a sudden breakthrough in a fitful and often bitter peace process.

The European Union says conclusion of Azerbaijan and Armenia talks and agreement on the text of a possible treaty, "a decisive step."

Armenia and Azerbaijan remain far from achieving peace despite the announcement of the completion of negotiations on a draft peace treaty, claims opposition Pativ Unem faction MP Tigran Abrahamyan.

Representatives of Armenia and Azerbaijan have concluded negotiations and agreed on the text of a peace agreement, the foreign ministries of both countries announced.

Armenia and Azerbaijan were locked in conflict over Nagorno-Karabakh for nearly four decades after the Soviet Union they were both members of collapsed.

After the signing of the peace agreement with Azerbaijan, the role of EU observers in Armenia will be reviewed, stated Armenian Foreign Minister Ararat Mirzoyan.

Armenian Prime Minister Nikol Pashinyan and Russian President Vladimir Putin speak at a summit of leaders of nations, which are members of the Commonwealth of Independent States (CIS), at the Kremlin in Moscow,

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,