Economy, Domestic Economy

Ties With Japan Warming Up

Ties With Japan Warming UpTies With Japan Warming Up

At a meeting between the parliamentary deputy minister for foreign affairs of Japan, Kentaro Sonoura, and Iran’s deputy minister of economic affairs and finance, Mohammad Khazaei, in Tehran on Monday, the two sides discussed signing agreements on promotion and support of foreign investments and customs cooperation between the two countries.

Khazaei underlined the importance of these agreements and said that through them, the two countries’ private sectors can further expand cooperation. He added that Iran’s banking and financial sectors are ready to support foreign investments.

The Japanese official welcomed the prospect of closer ties with Iran and said that Japanese firms look forward to cooperation with Iran’s private sector.

He also announced that Japan’s Minister of Foreign Affairs Fumio Kishida is scheduled to visit Tehran late October to explore avenues of cooperation in the energy sector and infrastructure development, Mehr News Agency reported.

Earlier, Trade Promotion Organization of Iran announced that a Japanese trade delegation made up of the country’s top private firms headed by the chairman of Japan’s External Trade Organization, Hiroyuki Ishige, is scheduled to visit Tehran in the first days of October.

Valiollah Afkhamirad, the head of the organization, is going to meet with the Japanese side to discuss joint ventures in oil, gas, petrochemicals, mining, autos and nanotechnologies, IRNA reported.

Afkhamirad previously met with Hirofoumi Katase, director general for trade policy at Japan’s Ministry of Economy, Trade and Industry, in Tehran late August, during which the two emphasized bolstering trade ties.

Tehran-Tokyo Trade stood at an annual $2.5 billion before the implementation of sanctions on Iran over its nuclear program in 2006, which reduced to $240 million in 2014.