Japan and Iran signed a bilateral investment pact Friday in a bid to give Japanese firms an edge in the global rush for access to the resource-rich nation.
Foreign Minister Fumio Kishida signed the pact with Iran's visiting Minister of Economic Affairs and Finance Ali Taiebnia during a ceremony at the Foreign Ministry in Tokyo.
The signing comes after Tokyo lifted sanctions on Iran last month following confirmation by a U.N. nuclear watchdog that Tehran had implemented measures promised under a landmark nuclear deal it struck with six major powers in July. The sanctions included halts on new investment in oil and gas.