TOKYO: Japan and Iran will start negotiations on an investment accord once sanctions are lifted following last month’s landmark international deal on Tehran’s nuclear program, the citing Japanese government sources on Wednesday.
Initial talks are being held between the two countries to prepare for the lifting of sanctions and begin formal negotiations, the business daily said, without identifying the sources.
Japan is keen to boost ties with Iran and invest in resource projects in the country, as well as return imports of Iranian oil to about 10 percent of the total from 5 percent now after sanctions forced Japanese refiners to cut purchases, it said.
Earlier this month, Daishiro Yamagiwa, vice-minister of Japan’s Ministry of Economy, Trade and Industry (METI), visited Tehran and met top government officials, accompanied by executives from the oil, gas and other industries.
Yamagiwa did not discuss an investment agreement, Shigetoshi Ikeyama, a director in METI’s Middle East and Africa division, said when contacted by Reuters about the Nikkei report.
