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    After Nuke Deal: Japan Sends Top-Ranked Delegation to Iran for Trade Talks

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    Japan is sending a top trade and industry official to Iran with executives from multiple industries now that a recently reached nuclear deal has paved the way for Tehran’s economy to rejoin the global market.

    The landmark deal – struck last month between Iran and the P5+1 group of six world powers – is aimed at curbing Iran's nuclear program in return for a potential easement of sanctions. 

    As a result, international delegations are flocking to Tehran to do business in what would be the biggest economy to rejoin the global trading and financial system since the break-up of the Soviet Union in 1991, Reuters reported.

    Daishiro Yamagiwa, vice-minister of the Ministry of Economy, Trade and Industry, will visit Tehran and meet top Iranian government officials on August 8 and 9, the ministry said in a statement on Friday.

    Yamagiwa will convey Japan's strong desire to quickly normalize economic relations once sanctions are lifted, the ministry said.

    Last week, Italy became the latest country to send a government minister to Tehran to hold talks, Reuters reported.

    Government representatives from France, Germany and Serbia have also traveled to Iran since the July 14 agreement, which raised the prospect of banking and trade sanctions on Iran being lifted, possibly by the end of this year, Reuters reported.

    Last month, Iran outlined plans to rebuild its main industries and trade relations after the nuclear agreement, announcing that it was developing oil and gas projects worth $185 billion by 2020.

    Tags:
    sanctions, global economy, Iran nuclear deal, P5+1, Iran, Japan
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