Russian and US space agencies, Roscosmos and Nasa, are reportedly planning to build a new orbital space station, to replace the current International Space Station (ISS), which will operate until 2024.

The talks come after Russia threatened to stop financing the ISS in 2020. However, its decision was delayed earlier this year.

The proposals were unveiled at Baikonur cosmodrome in Kazakhstan, AFP reported citing Interfax news agency.

Roscosmos chief Igor Komarov was quoted as saying: "Roscosmos together with Nasa will work on the programme of a future orbital station.

"We are discussing how best to use the resources, the finance, we are setting time frames and distributing efforts in order to avoid duplication."

"We agreed that the group of countries taking part in the ISS project will work on the future project of a new orbital station."

The new ISS programme would be open and include new countries.

Russia Deputy Prime Minister Dmitry Rogozin said: "The Russian Government will study the results of the talks between Roscosmos and Nasa. The decisions will be taken later."

Russia Today reported Nasa chief Charles Bolden as saying that the agencies will work together with other partners on space exploration, including a joint mission to Mars.

Bolden said: "We are discussing how best to use the resources, the finance, we are setting time frames and distributing efforts in order to avoid duplication."

In line with plans to commercialising space activities, the US space agency is moving away from government-backed low-orbit missions and seeks to partner with various private companies for joint exploration projects on the Moon and Mars.

Meanwhile, the Soyuz TMA-16M spacecraft lifted-off American astronaut Scott Kelly and Russia’s Mikhail Kornienko from Baikonur Cosmodrome to the ISS on a one-year mission.

The spacecraft also included cosmonaut Gennady Padalka on-board, who will stay for six months on the station.