UK believes in peaceful settlement of the Nagorno Karabakh conflict, member of the House of Lords of the British Parliament and Chairman of Global Counsel Peter Mandelson said in Baku.

"Eliminating this instability through the peaceful settlement of the conflict between the parties is of great importance," Mandelson said, quoted by Trend news agency.

"This mission was entrusted to the OSCE Minsk Group and we hope its efforts in this direction will be successful," Mandelson added.

OSCE Minsk Group co-chairs, ambassadors James Warlick of the United States, Igor Popov of Russia and Jacques Faure of France arrived in South Caucasus on November 4 to prepare a meeting between Armenian and Azerbaijani Presidents. The co-chairs are due to travel from Baku to Yerevan on the same day to meet Armenian leader Serzh Sargsyan.