The illegal economic activities of Armenia in the occupied territories of Azerbaijan are detrimental to the country's economy, Rufat Mammadov, Deputy Minister of Economy of Azerbaijan said.

He made the remarks at the "Illegality of Economic and Other Activities in and with Regard to Territories Under Military Occupation: Third-Party Obligations and Implications for Conflict Resolution" International Conference held in Baku, Trend reports.

As the deputy minister noted, Armenians formed companies in the occupied Azerbaijani lands and registered them in offshore zones, and these structures extract resources in the occupied territories and supply them as raw materials to global markets.

Mammadov noted that such actions are illegal and no state can support it.

"Azerbaijan closely cooperates with international organizations and is doing everything possible to prevent violations of international law," said the deputy minister.

The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.

The 1994 ceasefire agreement was followed by peace negotiations. Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.