“A new chapter” will open in economic relations between Iran and Japan when sanctions are lifted against the Islamic Republic, says Daishiro Yamagiwa, the Japanese deputy minister of economy, trade and industry.
Japan intends to boost the volume of non-oil trade with Iran, Yamagiwa said in an exclusive interview with the Tehran Times on Sunday.
Currently the value of non-oil trade between Iran and Japan is about 250 million dollars.
Yamagiwa said the current figure is the minimum that could be between the two countries. “Given the high potential that exists in Iran, Japan hopes the figure will increase.”
The visit of Yamagiwa to Tehran followed a nuclear deal between Iran and world powers (the five permanent members of the UN Security Council and Germany) on July 14 according to which Iran will slow down its nuclear activities and instead economic sanctions against Iran will be removed. The deal is set to go into effect in early winter.
Prior to the visit of the Japanese official the economy ministers of Germany and Italy visited Iran.
Yamagiwa said the Japanese private sector plans to make investment in Iran’s oil, gas and petrochemical projects.
He said Japan has approved plans to cooperate with Iran in this sector when the sanctions are lifted against the Islamic Republic.
“We made agreement with the Iranian side for preparing the ground for mutual cooperation in this sector after removal of the sanctions,” the official said.
Japan can also invest in transportation projects in Iran, he noted.
In terms of transferring technology, Yamagiwa said the two countries can set up joint companies and plants and “then Japan will train Iranian experts to operate the joint plants in Iran.”
Although there is no specific technology transfer plan at this time, but Japan can offer technical knowledge to Iran in different fields, he added.
Asked if Japan will cooperate with Iran in the field of clean energy, the official replied: “Of course, when the two countries come to terms for transfer of technology, clean energy will be included as well.”
Yamagiwa headed a 60-member delegation of executives from 21 companies to Tehran from August 8-9, hoping to grab a foothold in the Iranian market.
He visited Iranian officials, including Oil Minister Bijan Namdar Zanganeh, Industry, Mining and Trade Minister Mohammad-Reza Ne’matzadeh, and Central Bank Governor Valiollah Seif during his two-day trip.