Oman and Iran have agreed to establish “a joint working group” to negotiate the future management of navigation in the Strait of Hormuz, according to a statement issued Tuesday by Oman's Foreign Ministry.

Axar.az reports, citing Anadolu Agency, the statement came following talks in the Omani capital Muscat during a visit by Iranian Parliament Speaker Mohammad Bagher Qalibaf and Foreign Minister Abbas Araghchi.

The two countries, which share coastlines along the Strait of Hormuz, affirmed their commitment to guaranteeing safe passage through the waterway in accordance with international law, while emphasizing their sovereignty and sovereign rights over their territorial waters in the strait.

The statement said the two sides discussed issues related to the strait under the provisions of the Islamabad Memorandum of Understanding signed between the US and Iran and agreed to continue consultations through “a joint working group” between their foreign ministries.

The group will seek to reach an agreement on the future administration of navigation in the Strait of Hormuz, the services to be provided there and the associated costs, in line with international standards.

Muscat and Tehran also agreed to hold discussions with other littoral states and any other relevant parties regarding the future arrangements.

The two countries stressed that all measures concerning the Strait of Hormuz “must fully respect the sovereignty and sovereign rights.”