ID :
396190
Sat, 02/06/2016 - 12:28
Auther :

Japan Signs Investment Pact with Iran

Tokyo, Feb. 5 (Jiji Press)--Japan and Iran signed a bilateral treaty to protect and promote investments between the two countries on Friday, after Japan, the United States and European countries removed their sanctions against Iran last month. Tokyo and Tehran also exchanged a memorandum of understanding on measures to protect and assist Japanese firms' projects to develop natural resources and build power generation plants in Iran. The investment pact, signed by Japanese Foreign Minister Fumio Kishida and visiting Iranian Economy and Finance Minister Ali Tayyebnia, calls for protecting the interests of Japanese companies investing in Iran and improving regulatory transparency in the Middle East nation. The Japanese government aims to put the treaty into force as soon as possible, by obtaining parliamentary approval during the ongoing session of the Diet. Meanwhile, the memorandum says that the Nippon Export and Investment Insurance and the Japan Bank for International Cooperation will supply funds totaling up to 10 billion dollars for Japanese companies' resources development and power generation projects and that Iran will provide government guarantees for their investments. The removal of the U.N. resolution-based sanctions has made it possible for the Japanese government to conclude medium- to long-term trade insurance contracts with firms planning exports to and investments in resource-rich Iran. END

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