Volume. 11873

Iran, Japan emphasize need to form joint trade committee
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c_330_235_16777215_0___images_stories_edim_04_02(68).jpgTEHRAN – Iranian Industry, Mines, and Trade Minister Mohammadreza Ne’matzadeh met with Chairman of Japan’s External Trade Organization Hiroyuki Ishige in Tehran on Monday, discussing ways to expand bilateral trade ties.
The two sides emphasized the need to form a joint committee by trade promotion organizations in this regard, the Mehr News Agency reported.
Ne’matzadeh said that the two-way trade amounted to $819.7 million in 2012. The share of Japan’s exports to Iran was $724.6 million, he added.
Ishige, for his part, said that Japanese economic enterprises are willing to invest in Iran.
In July, Japanese Ambassador to Iran Koji Haneda said that his country is interested in fostering ties with Iran.
As a result of anti-Iran sanctions imposed by the United States and other Western countries, the volume of Tehran-Tokyo trade transactions has declined in the past years, the Japanese envoy said, adding that, however, mutual trade and Japan's oil imports from Iran are continuing.
He said Japan still relies heavily on imports of Iranian oil despite Western pressure on the Iranian government.
Japan last year established a new insurance mechanism to facilitate the delivery of Iranian crude oil to circumvent European sanctions targeting maritime shipments. 

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