Azernews.Az

President Ilham Aliyev has said Azerbaijan is committed to holding talks with Armenia to settle the long-standing Nagorno Karabakh conflict but the negotiations have been "absolutely fruitless".

"As a result of the mistakes made during the early years of our independence -- in some cases it was lack of charisma and, in some cases, treason -- our lands have been under [Armenian] occupation," President Aliyev told an official reception held Monday on the occasion of Azerbaijan’s 20-year independence anniversary. "We are now trying to end this injustice and restore our territorial integrity. We are and will hold peace talks. But, unfortunately, no result has been achieved in the negotiations."

Aliyev said Azerbaijani citizens who suffered from Armenian vandalism, atrocity and ethnic cleansing "must and will return to the land of their forefathers".

"I have no doubt about it. [But] to do this, we have to be stronger and we are. Azerbaijan’s potential is many times greater than Armenia’s -- economically, militarily and in all other areas -- and it should be still greater."

Aliyev added that Azerbaijan’s military spending exceeds Armenia’s total budget by 500 million manats (over $640 million).

The Karabakh conflict emerged in 1988 due to Armenia’s territorial claims. Azerbaijan and Armenia waged a brutal war which claimed some 30,000 lives and displaced about a million Azerbaijanis. A ceasefire accord was signed in 1994, but OSCE-brokered peace talks have been largely fruitless so far.

Azerbaijan has been spending heavily on its armed forces and repeatedly warned it would take back part of its territory if the ongoing peace talks yield no results.