The Nagorno Karabakh peace process dominates the agenda of the Russian and Azerbaijani presidents' current meeting in Sochi.

According to a statement posted on the Kremlin's official website, Russian President Dmitry Medvedev has attached a major importance to the settlement of regional conflicts.

"The settlement of regional conflicts is very important for us because we are close countries, neighbors, friends and partners. As a matter of fact, the well-being of our region, countries and peoples depends on the development of the situation in the region," the Russian leader said.

Azerbaijani President Ilham Aliyev thanked Medvedev for his personal efforts in the conflict settlement talks.

"We highly appreciate your personal involvement in the process. The meetings in trilateral format have considerably approximated the parties' positions," he said.

Aliyev added the Nagorno Karabakh conflict is a major problem in terms of regional security. He said his country is most of all interested in its speedy settlement, considering it a major factor promoting peace and cooperation in the region.

The Azerbaijani leader further stressed that the principles of conflict settlement reflect the norms of international law.

"That's why the speedy settlement of the conflict is in the interests of all the parties," he said.