Iran, Japan discuss expanding economic cooperation

(MENAFN) The Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) hosted a significant meeting with Japan’s Ambassador to Tehran, Tamaki Tsukada, where both parties discussed expanding economic cooperation. During the session, the two sides focused on developing a platform that would foster stronger economic ties between the private sectors of Iran and Japan, as well as identifying potential methods to enhance trade relations between the two nations. This meeting highlighted the ongoing interest in improving bilateral business opportunities despite the challenges posed by external factors.

Ambassador Tsukada emphasized Japan’s keen interest in collaborating with Iran, particularly in the energy sector. He noted that Japanese companies are especially interested in engaging in projects related to hydrogen and ammonia production, as well as participating in the overhaul of energy facilities and factory equipment in Iran. This reflects a broader desire from Japan to contribute to Iran's energy infrastructure, despite the current economic hurdles that have been exacerbated by international sanctions.

In his discussion, Tsukada acknowledged the long history of cooperation between Iran and Japan but also pointed out the adverse effects that U.S. sanctions have had on the bilateral trade levels. He expressed optimism that, should international conditions improve, Japanese oil and energy companies would once again show significant interest in the Iranian market. The ambassador also mentioned that the current trade volume between the two countries is about USD100 million, a figure he considered relatively low given the vast potential for growth in their economic relations.

Further strengthening the partnership between the two countries, Iranian Transport and Urban Development Minister Farzaneh Sadegh met with Ambassador Tsukada on October 29 to discuss potential collaboration in the fields of transportation, infrastructure, and technology. Minister Sadegh highlighted Iran’s strategic geographical position, emphasizing that Japan could use Iran as a gateway to access regional markets, including Central Asia and the Caucasus. This collaboration would provide Japan with direct access to key countries in these regions, benefiting both nations economically and strategically.

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