Japanese delegation comprising executives from the oil, gas, insurance and banking sectors, headed by Daishiro Yamagiwa, vice-minister of the Ministry of Economy, Trade and Industry highlighted the opportunities provided after the nuclear deal to expand economic relations in their visit with the governor of the central bank of Iran (CBI).
According to CBI public relations department, Valiollah Seif, the CBI governor referred to the long-established economic relations between Iran and Japan and added; “The combination of the economic delegation visiting Iran implies Japan’s determination to restore economic relations and increase the volume of transactions. I hope the new environment will result in remarkable developments in economic relations between the two countries”.
Pointing to the positive grounds for bilateral activities, the CBI governor mentioned that Iran has substantial investment potentials. “Japan is an advanced country in the fields of industry and technology”, he said, “The vast markets in Iran and in the region provide ample opportunities for shared manufacturing and distribution of products which should be taken seriously”.
He considered the interaction and relations between banking networks of the two countries as a key infrastructure for economic relations and added, “During sanctions, Japanese banks maintained acceptable cooperation with their Iranian counterparts which needs to be enhanced in the new era. Such cooperation should be redefined and actualized proportionate to economic potentials of both countries. A simple glance at the former relations between the two nations indicates that Iranian companies have always acted in a disciplined manner”.
The CBI governor welcomed more investments and stronger presence of Japan in Iran. “Obstacles and restrictions should be removed as soon as possible so as to assist the growth of economic relations”, he went on to say, “Financing projects and investments can be put into practice rapidly while acceleration of making a mutual investment agreement can foster the trends”.
Seif proposed that Japanese banks improve the level of their activities in Iran. “Japanese banks used to open representative offices in Iran, however, we desire that they promote their activities and even open branches in Iran. This is legally feasible and we try to pave the grounds for expansion of economic relations between the two countries”, he said.
“Iranian banks are well-prepared for swift and professional cooperation with their Japanese counterparts”, he continued, “I recommend that the grounds to be provided prior to implementation date of nuclear deal so that we would be able to enter the operational phase of cooperation and initiate and enhance banking interactions”.
Japan welcomes cooperation
Welcoming Iran’s preparedness for more cooperation, Daishiro Yamagiwa, Japanese vice-minister of the Ministry of Economy, Trade and Industry said, “Suggestions made by the CBI governor will be immediately forwarded to the relevant ministries and we welcome the idea to initiate activities before implementation of the deal”.
He expressed his satisfaction with cooperation with the ancient country of Iran and added “On behalf of the Japanese government I do congratulate the signing of the nuclear deal and hope we can take this opportunity to strengthen our economic bonds. We believe strong banking relations will be to the benefit of both nations”.
Highlighting the significance of relations with Iran among other regional countries and pointing to the fact that Iran’s natural resources are vital for industrial potentials of Japan, the vice-minister of the Ministry of Economy, Trade and Industry reiterated that Japanese companies had long had constructive cooperation with Iranian banks notwithstanding the sanctions and the Japanese government is now determined to support such cooperation. He suggested that the restoration of activities should be in the environment, car manufacturing, and electricity sectors.
In response to CBI governor’s proposal for expansion of banking relations, Daishiro Yamagiwa emphasized that relations between the CBI and Japan had already existed despite the sanctions and they hope the current opportunity would lead to stronger ones. “It depends on the decision of Japanese banks”, he said, “however, the government will support their presence in Iran”.
“The Japanese government is expecting the joint comprehensive plan of action to be implemented, however, it already supports those non-government enterprises that are willing to commence their presence in Iran”, he concluded.