TOKYO – Japan will begin negotiations with Iran on a bilateral investment pact next week, Japan said on Friday, and aims for agreement as soon as possible to allow Japanese companies to rebuild a presence in the oil-rich country.
Iran reached a landmark pact in July with the United States, Germany, France, Russia, China and Britain on limiting it nuclear program to ensure it is not put to making bombs in exchange for the lifting of economic sanctions. Japan will decide on its sanctions, which include a ban on new investment in Iranian oil and gas projects, while watching other countries’ moves, a Japanese foreign ministry official said. Japan’s delegation at three days of talks in Teheran beginning on Monday will be led by Masaaki Kanai, head of the Foreign Ministry’s second Middle East division, the ministry said in news release. “We are aiming to reach an agreement as soon as possible, but nothing is definite,” the official said.