Economy, Auto

Japan Seeking Iranian Automotive Partners

Japan Seeking Iranian Automotive PartnersJapan Seeking Iranian Automotive Partners

Japan is seeking Iranian business partners to start manufacturing vehicles and auto parts inside Iran, the chairman of Japan External Trade Organization said in a recent announcement.

Hiroyuki Ishige made the statement on the sidelines of a meeting with the head of Iran Chamber of Commerce, Industries, Mines and Agriculture, Mohsen Jalalpour, Tasnim News Agency reported.

Ishige noted that the companies have started exploring Iran's market and will begin to take executive measures once the grounds are prepared.

He added that 30 of the most famous economic, industrial and manufacturing firms from Japan—including automotive firms Mitsubishi and Suzuki—are currently present in the Iranian market.

The firms aim to boost trade relations between the two countries by directly negotiating with their Iranian counterparts and find solutions for removing obstacles to development of business ties.    

"Lengthy bureaucratic procedures and violation of intellectual property rights are the two main problems that need to be addressed before mutual cooperation can be expanded," he said. Noting that up to 99% of economic firms in Japan belong to the private sector, Ishige lauded the expansion of privatization of economic activities in Iran.