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Current president Serzh Sarkisian nominated Armen Sarkisian as the ruling Republican Party's pick for president on January 19.

"I want to thank all those who voted both in favor and against [me]". This, of course, is a very important event in the life of our people and the state, and, of course, is a very important milestone on the way to the establishment of parliamentary democracy. "Work which is in fact the continuation of the years of the first, second and your presidency of the Republic", Dr. Sarkissian told the president.

"Dear Mr. Sarkissian, I sincerely congratulate you on your election as Armenia's President".

The outgoing president is widely expected to become prime minister later in April.

Armenia's Foreign Minister Edouard Nalbandian left and Turkey's Foreign Minister Ahmet Davutoglu sign documents during the signing ceremony of a peace accord between Turkey and Armenia in Zurich Switzerland Saturday Oct. 10 2009
Christian Hartmann,PoolArmenia Scraps Deal to Normalize Relations With Turkey- President's Spokesman

Under the new Constitution the President is elected for a term of seven years. Many Armenians accuse the government of corruption and mishandling the economy.

Sarkissian's first trip outside of Armenia since being nominated was to Russian Federation, where he met with community representatives and church leaders. He holds the seat of former President Sergey Sarkissian, who, according to opposition leaders, may remain in office as prime minister.

The election also marks a major power shift. He has pledged, among other things, to strive to heal what he sees as serious divisions existing within the Armenian society. He was prime minister in 1996-97 and served in diplomatic posts, including ambassador to the United Kingdom. Sarkissian stayed in Britain and made a fortune there in the following decade, working as an advisor and middleman for Western corporations doing business in the former Soviet Union.

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