MOSCOW -- Russian Transport Minister Sergei Frank said here on Wednesday that Moscow is ready to invest in Iranian ports in the Caspian Sea and the construction of related docks and warehouses.

Frank said in talks with Iran's Ambassador Gholam-Reza Shafeie here on Wednesday that one of the main policies of Moscow is to activate north-south corridor, adding that investment in project for construction of ports in Makhachkala, Oliya and Astrakhan has been promising.

Shafeie also called for conclusion of long-term cooperation agreement between Iran and Russia in order to balance mutual trade and invest in projects for construction of ports, terminals and warehouses at the ports.

The two sides said expansion of mutual transactions through Caspian Sea would raise mutual understanding.

They called for promotion of cooperation in railway and port construction as well as in loading and offloading goods, IRNA reported.