Russia's Federation Council has ratified the intergovernmental agreement with Cuba on cooperation in exploring and using space for peaceful purposes on Wednesday.

The agreement was signed on February 21, 2013 in Havana, Cuba and is aimed at creating organizational and legal foundation for the formation and development of cooperation projects between Russia and Cuba in the field of satellite communications, broadcasting and satellite navigation.

The cooperation between the two countries will also relate to space geodesy and meteorology, and remote sensing of the Earth from space.

A number of issues on using the results of the joint activities towards the creation of new space equipment and technologies in other areas of economy are currently under discussion.

Issues, relating to the protection of intellectual rights, exchange of information, the procedures for resolving disputes between the parties as well as those pertaining to accountability and compensation for damage are also under discussion.

It has been reported that the goods to be specially designated for the purpose of cooperation within the agreement will be exempt from tariffs and taxes when transported through the Customs.