Japan to open $10bn credit line for Iran

TEHRAN, Feb. 06 (MNA) – Iran-Japan’s first economic MoU was signed on Fri. in the presence of Iranian economy minister and and Japanese Foreign Minister Fumio Kishida.

Ali Tayebnia, Iranian Minister of Economy and Finance, who was on a three-day visit to Tokyo, said on Friday that for the first time after the Islamic Revolution, Iran and Japan signed a bilateral investment agreement in a bid to expand the economic relations between the two countries and contribute to the implementation of agreements on the Iranian nuclear program to promote peace and stability in the Middle East. 

Tayebnia further deemed positive the talks held between Iran and Japan, saying “today, we signed an investment agreement which is in fact a framework for supporting and facilitating bilateral investment. We are hoping that we would also reach an agreement on customs and tax cooperation in the near future.”

The economy minister noted that the visits by several high-ranking Japanese delegations to Iran in the past two years have provided proper conditions for the development of economic and financial relations between Iranian and Japanese companies, adding since 2015, Iran has started a new round of bilateral cooperation with the Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO).

Iranian minister of economy also reached an agreement with the Minister of Economy, Trade and Industry of Japan Motoo Hayashi, on Friday evening to open a $10 billion credit line for financing the country’s projects and developing foreign investment capacities.  

During the meeting, the two sides noted the ample common grounds for economic and industrial cooperation between the two countries and vowed to further expand Iran-Japan relations.

Japan lifted economic sanctions against Iran in January after the International Atomic Energy Agency (IAEA) verified that Tehran was complying with the nuclear agreement reached last summer.
 

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News Code 114184

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