An Iranian shipping company and a Brunei construction firm signed cooperation agreements on Thursday.

Arya Shipping Lines, as one of the oldest companies active in shipping, and the Brunei firm North Star signed the agreement in various areas, including on hire-purchase of tankers and bulk carriers.

The agreements are aimed at using Brunei's facilities and ports as an appropriate location for expanding regional and international shipping and trading networks.

The agreements were signed in the presence of Iran's Ambassador to Brunei Abdolhamid Fekri. 

The envoy said the deals are based on mutual understanding, trust and friendship.

Although Brunei is a small country, its geographical location at the center of southeast Asia region can open the Iran's door to the regional association, ASEAN, he said.

At the meeting, Amir Tavakkoli was appointed as the coordinating manager of Iran-Brunei chamber of commerce and industry.

Brunei with a population of 500,000 is one of ten-member states of ASEAN. It is located to the north of Borneo and east of Malaysia. It also borders South China Sea to the north.