BEIRUT, March 21 (Xinhua) -- Visiting president of Russia's International Association of Islamic Business (IAIB) Marat Kabayev said on Thursday that Russia wants to increase mutual investments with Lebanon.

"This is the right time to start mutual investments between the two countries. Russian businessmen have many innovative ideas that they want to be implemented in Lebanon," Kabayev was quoted as saying by the National News Agency.

The starting point could be Lebanon's northern city Tripoli, he added.

Kabayev's remarks came during a meeting between a Russian delegation and Toufic Dabbousi, head of Tripoli's Chamber of Commerce, Industry and Agriculture.

Kabayev also said he hopes the cooperation with Lebanon will focus on the economic and cultural fields.

Alexander Gogolev, chairman of the Lebanese-Russian Business Council, said Russia could partner with Lebanon in all fields especially in the banking sector.

For his part, Dabbousi called upon Russians to invest in big projects in Lebanon such as the creation of railways and the expansion of Tripoli's port.