 Markarian coached the Paraguay U-23 National Team in 1992, winning the South American Pre-Olympic Championships and a spot to compete in the 1992 Barcelona Olympics.From 1993 to 1997, Markarian coached the Peruvian teams, Universitario de Deportes and Sporting Cristal winning one Peruvian league title with each of them.Markarian is also recognized for taking Sporting Cristal to the Copa Libertadores Final in which Sporting Cristal was the runner-up.