Iran has signed a deal with Romanian company to export technical and engineering services for the gas industry to the European Union member country.

IRNA said on Tuesday that a memorandum of understanding was signed by the head of Iran Gas Engineering and Development Company, Reza Noshadi, and Mihai Tănăsescu from the Romanian company Gaz Vest.

Under the agreement, Iran will cooperate with the Romanian company in construction of gas pipelines and pressure boosting facilities as well as building gas storage reservoirs.

According to Noshadi, the two countries are trying to find other cooperation opportunities, including joint ventures and building refineries or power plants, while a joint working group is also formed so that they can share their technical know-how and experience.

Romania is the first European country that is importing technical and engineering services from the Islamic Republic.

Earlier in January, the head of Tehran Chamber of Commerce, Masoud Khansari, said Iran’s export of technical and engineering services has plummeted to about $200 to $300 million from about $5 to $6 billion in the past few years.

Last week, Iran’s President Ebrahim Raisi said that Iran’s oil exports have increased by 40 percent and Tehran pursues a dual-track policy of circumventing US sanctions and working for their removal.