The new Armenian ambassador to the U.S. Tigran Sargsyan handed his credentials to President Barack Obama Monday, July 14.

At the ceremony, the envoy hailed the effectiveness of the Armenia-U.S. ties, pledging to contribute to further development of the bilateral relations.

The U.S. President, in turn, expressed confidence that the ambassador will put his experience to best use in helping to expand bilateral ties. Obama welcomed cooperation with Armenia in the framework of peacemaking missions, strengthening of democracy and economic development.

He also gave high assessment to Armenia’s efforts to achieve peaceful settlement of the Nagorno Karabakh conflict, the foreign ministry press service reported.

In early April, the vice speaker of the parliament Eduard Sharmazanov announced resignation of Prime Minister Tigran Sargsyan.

Sharmazanov said Sargsyan submitted resignation a month ago, however the President insisted that the PM should not leave the post unless the Constitutional Court rules on the controversial pension reform.

In a Facebook post, Sargsyan said it was a well-considered decision while Sharmazanov said personal issues were involved as well.

Tigran Sargsyan occupied the Prime Minister’s post from April 2008 to April 2013.

From 1998 to 2008 he served as the chairman of the Central Bank of Armenia.