Japan set to resume business with Iran
Japan is set to sign an investment treaty with Iran on Friday, joining China and others in a scramble for business as sanctions on the Middle East’s second-largest economy are lifted.
Iran has long been a major oil supplier for import-dependent Japan. Now it is again a potential market for Japanese products, including automobiles, aircraft and high-speed railways, the Wall Street Journal reported.
A landmark US-led agreement reached last year between Iran and six world powers came into effect last month, ending years of sweeping sanctions over Iran’s nuclear program.
The deal will reopen international markets to Iranian oil and end many restrictions on doing business with Iran and hundreds of Iranian companies.