MOSCOW, September 1 (RIA Novosti) - Moscow welcomes Armenia and Turkey's intention to normalize bilateral relations, the Russian Foreign Ministry said on Tuesday.

Turkey and Armenia reached an agreement on Monday to start "internal political consultations" on re-establishing diplomatic relations and opening their borders. The negotiations were mediated by Switzerland.

"We hope that an improvement in relations between the two neighbors will revitalize bilateral trade and economic contacts and will have a positive impact on the socio-economic situation of both states," the ministry said in a statement posted on its website.

It added that a better relationship between Armenia and Turkey "will help normalize the situation in the region and strengthen peace and security."

The two countries agreed to a "roadmap" to normalize their relations this April.

Turkish Foreign Minister Ahmet Davutoglu called on Tuesday for an early settlement to the long-running conflict between Armenia and Azerbaijan over Nagorny Karabakh, a mountainous region in Azerbaijan with a largely Armenian population.