Iranian Economy Minister Ali Tayyebnia and his Japanese counterpart Motoo Hayashi signed a memorandum of understanding (MoU) in Tokyo on Friday to implement economic projects worth $10 billion.
According to the MoU, the financial facilities will be given to the projects that will be implemented in Iran with the participation of Japanese companies.
This is the second MoU signed between Iran and Japan in one day.
Earlier today, Iranian economy minister and Japan’s foreign minister in an official ceremony signed the Japan-Iran Investment Agreement.
Tayyebnia and Japan’s Foreign Minister Fumio Kishida signed the agreement which reiterates both governments’ agreement to support each other’s investments in the other country.
Addressing a ceremony, Foreign Minister Kishida referred to his recent visit of Iran at the top of an economic delegation in fall season, arguing: Ever since the implementation of the JCPOA a serious will to strengthen economic ties with Iran has emerged in Japan.
‘That is because Iran has high economic potentials and I hope this Japan-Iran Investment Agreement will lead to ever more strengthening of bilateral ties,’ he added.
The Iranian economy minister, too, referred to the positive background of Tehran-Tokyo relations, arguing: There are no black points in Iran-Japan relations and the two countries’ capabilities and potentials have paved the path for the smooth progress of our relations.
‘We are hopeful that the termination of the anti-Iranian sanctions has provided the ideal opportunity for expansion of relations to secure both nations’ interests,’ he said.
‘The agreement signed by the countries today can play an important role in that respect. In the past there were two agreements signed between Iran and Japan and this Japan-Iran Investment Agreement, the third between the two countries, is the first economic agreement between Iran and Japan ever since the establishment of the Islamic Republic of Iran,’ added Tayyebnia.
He said that all the rights of the Japanese investors in Iran will in accordance with this agreement be safeguarded by the Iranian government and even the non-commercial threats that might emerge against the foreign investors are covered in this agreement, adding that the same is true about the Iranian investors in Japan.
Tayyebnia on the sidelines of the meeting in the presence of the two countries’ private sector activists also focused on the perspective of Tehran-Tokyo relations in the post-sanctions era.
Kishida, too, said in the ceremony that in addition to economic cooperation, nuclear safety will be among axes the two countries’ future cooperation.