YEREVAN, Jan. 19 (Xinhua) -- Armenia's ruling Republic Party of Armenia (RPA) will nominate Armen Sargsyan, a former maths professor of Cambridge University, as a presidential candidate, announced RPA leader and outgoing President Serzh Sargsyan in a statement on Friday.

Sargsyan was the country's prime minister briefly from November 1996 until March 1997.

Armenia has been transitioning from a presidential system of governance to a parliamentary one since its constitutional reforms in December 2015.

Under the new amendments, though recognized as head of state, the president will take on largely ceremonial roles, while the real executive power remains in the hands of the prime minister.

The presidential election is set for March 2 when Armenia's National Assembly will elect a new president for a seven-year term.

The incumbent president's second and final term expires on April 9, on which Armenia's transition to a parliamentary system of governance will be completed.