Islamabad | The US and Iran have agreed on a roadmap aimed at reaching a final agreement within 60 days following two days of talks at the Swiss resort of Burgenstock, according to a joint statement issued by mediators Pakistan and Qatar on Monday.

The talks, held on Sunday and Monday, took place under the framework of the Islamabad Memorandum of Understanding (MoU) signed by the US and Iran on Thursday to advance negotiations on regional security and other contentious issues.

Pakistan Prime Minister Shehbaz Sharif and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani also participated in the discussions, facilitating the negotiations.

While the US team was led by Vice President JD Vance, the Iranian delegation was led by Parliament Speaker Mohammad Bagher Ghalibaf.

In a joint statement issued after the conclusion of the Lake Lucerne Summit, the first high-level committee meeting since the signing of the MoU, the mediators stated that representatives of Iran, the US, Pakistan, and Qatar reviewed the progress made under the agreement.

It said the parties have agreed to establish a high-level group to ensure the effective implementation of the MoU and oversee progress on issues covered under the framework.

"The High Level Committee has agreed upon a roadmap towards reaching a final deal within 60 days, laying the foundation for the immediate commencement of further technical talks," the statement said.

It added that a dedicated communication channel had been established between the parties for the period specified in the MoU to prevent incidents and miscommunication and to facilitate the safe passage of commercial vessels through the Strait of Hormuz.

The Strait of Hormuz, located between Iran and Oman, is considered the world's most important oil transit chokepoint. It connects the Persian Gulf with the Gulf of Oman and the Arabian Sea and serves as a key route for crude oil exports from major Gulf producers, including Saudi Arabia, Iraq, Kuwait, the UAE and Iran.

Recently, the Iran-US war and restrictions on shipping through the Strait disrupted oil flows, triggering concerns over global energy supplies and contributing to volatility in crude prices.

The statement also noted that the adherence to the termination of military operations in Lebanon as per the MoU technical talks will continue for the remainder of the week at Burgenstock.

A ceasefire brokered in Lebanon over the weekend appeared to remain in effect, with Israel easing some restrictions in areas near the border.

However, Israel and Hezbollah are not parties to the US-Iran understanding. Israel has said its forces will remain in southern Lebanon until security threats are eliminated, while Hezbollah said it will halt attacks only if Israel commits to withdrawing its troops.

The joint statement said the mediating parties will continue to do their utmost to ensure that the negotiations continue to be conducted in a constructive atmosphere with the aim of reaching a final deal.

Pakistan and Qatar also thanked friendly countries for their support and contribution to the ongoing negotiations.

According to the statement, the Lake Lucerne Summit was held in a "positive and constructive atmosphere".

The Burgenstock meeting marked the first formal review of progress under the Islamabad MoU, signed last week following intensive diplomatic efforts by Pakistan and Qatar to facilitate dialogue between Washington and Tehran amid heightened regional tensions.

The MoU was signed by US President Donald Trump and Iranian President Masoud Pezeshkian, with Sharif signing as a guarantor