TEHRAN - Iranian Oil Minister Javad Oji and Japanese Foreign Affairs Minister Yoshimasa Hayashi in a meeting stressed the need for enhancing the two countries' energy and economic ties, Shana reported.

 

In the meeting, held in Tokyo on Wednesday evening, Oji said Iran can play an important role in Japan's energy supply and called for boosting the level of economic cooperation between the two countries.

"Japanese companies are very well-known in Iran, and this is a valuable cause for the development of cooperation between the two countries," the minister added.

The official noted that Iran’s current government administration has designed a comprehensive plan for the development of the oil industry, based on which $160 billion of investment is going to be attracted in the industry within eight years to bring the level of oil production capacity to 5.7 million barrels per day and natural gas production to 1.5 billion cubic meters per day.

He further mentioned the unjust U.S. sanctions on the Iranian oil industry and said that despite the sanctions, Iran’s energy trade is underway with several countries.

Oji also expressed hope that Iran and Japan will cooperate in the oil, gas, refinery, and petrochemical sectors.

Yoshimasa Hayashi, for his part, referred to his meetings with the Iranian president and Iranian top diplomats in New York and added that high-ranking officials of the two countries are determined to develop cooperation.

"In recent months, the price of oil has increased a lot, and Iran has the opportunity to take maximum advantage of this situation by finalizing the [nuclear deal] negotiations," he added.

Oji, who visited Japan to attend the Asia Green Growth Partnership Ministerial (AGGPM) meeting and also the state funeral of former Japanese Prime Minister Shinzo Abe, had earlier told NHK that the Islamic Republic is going to enhance energy ties with friendly nations amid the U.S. sanctions.