The Japan External Trade Organization, or JETRO, has concluded a memorandum of understanding with a chamber of commerce and industry in the Iranian capital of Tehran. The move is part of an effort aimed at deepening exchanges between Japanese and Iranian companies and creating an atmosphere that will enable Japanese firms to do business in Iran when sanctions are lifted.
The signing ceremony was held in Tehran on Sunday. Officials from the two countries’ governments also attended.
The two sides will work jointly to hold seminars and other events aimed at promoting exchanges between the countries’ firms.
Economic sanctions that the United States imposed on Iran remain in effect. UN sanctions over Tehran’s nuclear development program were reinstated in September. The value of trade between Japan and Iran has declined sharply.
Iran is rich in natural resources. It has the world’s second largest reserves of natural gas.
JETRO says it hopes the two nations’ firms will have as many exchanges as possible. The organization adds that it wants to create an environment that will enable Japanese firms to do business smoothly in Iran when the sanctions are lifted.
JETRO Executive Vice-President Suzuki Takafumi said it was worthwhile to sign the memorandum of understanding, as it will enable the two sides to think about what they will be able to do when the sanctions are lifted in the future.