Both sides signed a MoU on holding meetings, publishing joint scientific journals, exchange students and professors and conducting joint scientific and research projects, IRNA wrote.
Addressing the meeting, Mohammad-Hossein Mokhtari, Chancellor of University of Islamic Sects said the university has provided the Shia and Sunni students with the opportunity to live peacefully together.
He added that today's problems have religious solutions.
He called for utilizing academic methods to find solutions to common problems.
Meanwhile, Chancellor of Al Maaref University Ali Alaeddine said the Islamic University of Lebanon is the scientific and practical example of peaceful co-existence of the followers of religions in Iran.
During the meeting both sides concluded an agreement on establishing a branch of the University of Islamic Sects in Beirut.