General Manager of Japan’s Marubeni Corporation Masahiro Yamada announced that the talks on renewing Iran’s technologies to produce methanol have been held by the two sides’ officials.

In February, 2016, Iran’s oil and petrochemical industries will go back to its position it had before sanctions period, the Japanese official said.

Yamada made those remarks on the sidelines of the 12th Iran Petrochemical Forum (IPF) that started in Tehran on December 13 for two days.

Talking of Tehran-Tokyo ties, Yamada said the two countries enjoy yearly 400-million-euro trade exchange.

While markets are suffering from shortage of ethylene, today is a proper opportunity for Iran to return to the global markets because it manufactures 3.5 million tons of ethylene annually that can meet the shortage of that material, the Japanese official said.

Japan is to invest in petrochemical industry in Iran, he said adding Iran can play a leading role in providing related materials for the African countries due to rise of population in that continent.

The 12th annual international Iran Petrochemical Forum was held with participation of representatives of 25 countries.

Iran Petrochemical Forum was aimed at introducing petrochemical opportunities in Iran.