Georgia has welcomed the newly reached memorandum of understanding between the US and Iran, expressing hope that the agreement will pave the way for a comprehensive peace settlement and long-term regional stability.

Georgian Prime Minister Irakli Kobakhidze praised the mediation efforts that helped bring the two sides together and create the conditions necessary for the breakthrough, The Caspian Post reports via InterPressNews.

“We welcome the agreement on the memorandum of understanding reached between the United States of America and the Islamic Republic of Iran,” Kobakhidze said. “We appreciate the mediation efforts that contributed to creating the conditions needed for this understanding. We hope this important step will lead to a comprehensive peace agreement and a long-term resolution of the conflict.”

The comments come after U.S. President Donald Trump announced that an agreement had been reached with Iran. According to the announcement, the United States is expected to end its maritime blockade of the country, while the strategically vital Strait of Hormuz could be reopened.

Pakistan, which has been identified as the chief mediator in the talks, has announced that the official signing ceremony is scheduled to take place on June 19 in Switzerland.