Iran's Foreign Minister Manouchehr Mottaki said Wednesday that Iran and Syria favor regional stability and peace and respect national sovereignty of the neighboring states, the official IRNA news agency reported.

Mottaki made the remarks in a joint press conference with his visiting Syrian counterpart Walid Muallem.

"We share common stance with Syria on establishment of stability in the region and respect for national sovereignty of the neighboring states," Mottaki was quoted as saying.

On Lebanon, Mottaki said that sincere cooperation among all Lebanese political parties would help bring prosperity for the great Lebanese nation, the report said.

Asked about reports over the seizure of an Iranian cargo ship off the coast of Israel, the Syrian foreign minister said that " such a thing is not correct and the ship was moving from Syria to Iran and was not carrying any weapons nor the equipment to construct weapons," according to IRNA.

Syria is Iran's closest ally in the region and the two countries enjoy common cultural, political and economic interests. Syria and Iran take Israel as their foe and support Lebanese Shiite armed group Hezbollah and Palestinian Islamic Hamas movement in their struggle against Israel.

Currently, Iran is carrying out a large number of economic projects in Syria, including car production and housing projects, and Damascus hosts thousands of Iranian tourists and pilgrims every year.