Prime Minister Shehbaz Sharif on Thursday told Iran’s President Dr Masoud Pezeshkian that the recently signed ‘Islamabad Memorandum of Understanding’ (MoU) between Washington and Tehran would “go a long way towards” rebuilding Iran.

According to the Prime Minister’s Office (PMO), the premier made the remarks during a phone call with the Iranian president that lasted over 30 minutes.

This was the first contact between the two leaders since the signing of the historic Islamabad MoU today, after the 14-point agreement was reached earlier on Monday. Under the deal, the two sides have agreed on a framework to end the war, reopening of the Strait of Hormuz and a 60-day timeline for further talks.

The prime minister congratulated Pezeshkian, the Iranian leadership and the “brotherly people of Iran on the signing of the historic peace deal”, said PMO in an official press release.

“The landmark deal, he said, would not only help restore peace in the region, but also go a long way in rebuilding the Iranian nation and further strengthening Pakistan-Iran ties, across all areas of mutual interest.”

While lauding Iran’s decision to sign the peace deal, PM Shehbaz wished the Iranian side success in the next phase of negotiations and assured President Pezeshkian of Pakistan’s continued support for Iran as a brotherly and neighbouring country in all spheres.

He also conveyed his regards to Iran’s Supreme Leader, Ayatollah Ali Khamenei.

According to the PMO, President Pezeshkian thanked PM Shehbaz and Chief of Defence Forces and Chief of the Army Staff Field Marshal Asim Munir for their “extremely critical roles” in steering the mediation process with “great skill and sincerity”, which had ensured its success.

Pezeshkian said Tehran would always remember Pakistan’s “positive and constructive efforts and its support for Iran during these difficult times”, the PMO said.

“While conveying his best wishes for the people of Pakistan, the Iranian president said Iran was keen to enhance and expand its bilateral ties with Pakistan across all areas of mutual interest,” the statement added.

Both leaders agreed to visit the capitals of each other’s countries “at the earliest possible opportunity to carry forward the excellent cooperation between the two sides in bilateral as well as regional matters”.

They also agreed to remain in touch in the coming days.

The phone call comes after the two leaders — along with US President Donald Trump — signed the Islamabad MoU, with PM Shehbaz signing as a mediator.

The deal ending more than 100 days of war between the US and Iran has been widely welcomed by the international community, after the conflict sent shockwaves across the globe as energy prices skyrocketed due to the Hormuz crisis.

Under the deal, the US will lift its blockade of Iranian ports and Iran will reopen the Strait of Hormuz for international commercial shipping. Washington also committed to immediately waiving oil sanctions crippling Iran’s economy.

And once a final agreement is reached on Iran’s nuclear ambitions, the US will also facilitate the release of a $300 billion reconstruction fund supported by regional nations, the deal says.