Official invites Japanese banks to launch branches in Iran

TEHRAN (Tasnim) – Head of the Trade Promotion Organization of Iran Valiollah Afkhami Rad invited Japanese banks, insurance companies and other businesses to actively work in the Islamic Republic.

“(Iran’s) free trade zones are appropriate for the establishment of (branches of) Japanese banks and insurance companies,” Afkhami Rad said in a meeting with a high-ranking Japanese economic delegation in Tehran.

“During the sanctions period, Japanese banks were cautious about (working in) Iran,” he said, adding that the time has now come for them to boost cooperation with Iran.

The remarks come against the backdrop of a new wave of renewed interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion over the text of a comprehensive 159-page deal on Tehran’s nuclear program.

The comprehensive nuclear deal between Iran and the six powers would terminate all nuclear-related sanctions imposed on Iran after coming into force.

Experts believe that Iran’s economic growth would rise remarkably after the final nuclear deal takes effect.

By Tasnim News Agency