The MoU, signed during the European Triathlon Union Conference in the Russian capital Moscow, aims to bring the two organisations together with the common goal of building triathlon around the world through aspects such as youth development, fan building and audience engagement.

The agreement will also see the ITU and SLT work more closely together on promoting gender equality, including equal prize money and contracts for both male and female athletes, and clean sport.

Additionally, the ITU have given their commitment to providing guidance in rule development at SLT's new events.

The MoU comes as part of the ITU's strategic plan which has seen them reach agreements with triathlon organisers around the world to promote the sport under its values of fair play, safety and clean sport.

The agreement also sees the SLT recognise the ITU as the governing body of triathlon, meaning they will liaise with them and national federations on future SLT competitions.

It is hoped that the MoU will ensure that ITU and SLT calendars are regularly discussed to avoid events clashing whilst they will also participate in joint marketing campaigns as well as their current individual ones.

ITU President and International Olympic Committee member Marisol Casado believes the new agreement is a large step forward for the sport.

"ITU and SLT have always had common goals to safely and efficiently develop triathlon, nurture new talent and provide world stages for great champions," the Spaniard said.

"By working together to reach those ends, we will do so faster and more effectively, using one another's strengths to herald in an exciting new era of competition.

"This MoU represents an important moment for our sport and athletes, but it is only the beginning of what will be a long and fruitful partnership."

SLT chief executive Michael D'hulst added: "We are thrilled to be able to work with the governing body of triathlon so early on in SLT's establishment.

"We look forward to ensuring safe, fair and invigorating SLT events with ITU, and in so doing raise the profile of the sport.

"The close alignment of ITU and SLT marketing initiatives coupled with the innovation of the formats and the league will serve to extend the reach of both organisations and bring the potential for greater scope in campaigns as well as through their respective platforms."

SLT say that their competition, which made its debut last year, is a "spectator-friendly race series which gives triathlon fans an action-packed and very up-close experience".

It is focused on "attracting a new generation of audiences with the aim of fostering and inspiring future champions and promoting a healthy lifestyle for the wider community".

The 2018-2019 SLT season will begin in September on Channel Island Jersey.