Japanese firms express interest in collaborating with Iran’s energy sector
Date
11/5/2024 7:56:32 AM
(MENAFN) The Japanese Ambassador to Tehran, Tamaki Tsukada, recently expressed interest from Japanese companies in collaborating with Iran's energy sector, particularly in hydrogen and ammonia production. Tsukada highlighted that these companies are keen on engaging in activities such as the overhaul of factories and energy equipment within Iran. He acknowledged the long-standing history of cooperation between Japan and Iran but noted that U.S. sanctions have negatively impacted economic exchanges. The ambassador believes that if international conditions improve, Japanese oil and energy firms will be more inclined to invest in the Iranian market.
Currently, trade between Japan and Iran is valued at approximately USD100 million, which Tsukada described as significantly low given the potential for expanding economic ties between the two nations. This sentiment reflects both the challenges posed by sanctions and the existing capabilities of both countries to enhance their economic interactions. In a related meeting between Iranian Transport and Urban Development Minister Farzaneh Sadegh and Ambassador Tsukada on October 29, both sides emphasized the importance of cooperation in transportation, infrastructure, and technology development.
Minister Sadegh pointed out Iran's strategic geopolitical position, which serves as a link between East and West, enabling Japan to access markets in Central Asia and the Caucasus through Iran. She also highlighted potential areas for collaboration, including intelligent transportation systems, safety enhancements, transportation infrastructure technologies, and urban construction technologies that are smart and resistant to earthquakes.
During the meeting, Sadegh invited Japanese officials to visit Iran to explore the country’s capabilities, particularly its unique infrastructure such as bridges and tunnels. Additionally, both parties discussed the establishment of direct flights between Iran and Japan, recognizing its potential to strengthen ties. Sadegh also proposed a meeting between port officials from both nations to explore cooperation opportunities in maritime transportation, emphasizing the multifaceted nature of potential bilateral collaboration.
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