Singapore plans to participate in projects to construct and develop ports in Iran, according to a high-ranking Singaporean official, said a report.

Head of Singapore Port Development Sector Vun Chi Fung, in a meeting with Iran's ambassador to Singapore Javad Ansari, discussed cooperation between the two countries in constructing and developing ports, said Iran Daily News, citing an IRNA report.

Fung also invited Iran's Minister of Cooperatives, Labour and Social Welfare Ali Rabiei to visit port installations in Singapore, said the report.

Rabiei, heading a high-ranking commercial delegation, will begin an official visit to Singapore today (May 18).

Fung said that many parts of southern Iran, particularly along the northern coasts of the Sea of Oman, are suitable for developing ports.

Ansari pointed out that over 80 per cent of Iran's exports and imports are conducted by sea which adds to the importance of port construction in the country.

Singapore recently inked a $450-million agreement to finance offshore installations and other marine projects in Iran, added the report.