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"The Japanese government is preparing to dispatch a high-ranking delegation to Iran and resume its extensive trade exchanges with Iran; an agreement on investment has been signed by the two countries and a $10-billion credit line has been opened by the Japanese government," Japanese Ambassador to Iran Hiroyasu Kobayashi said, IRNA reported.

In a meeting with East Azarbaijan Governor General Esmaeil Jabbarzadeh, the Japanese envoy said that Iran and Japan have good views about each other, adding, "Our goal is to put into effect ideas for cooperation and we should make the best use of the opportunities."

In late May, Iran's Deputy Foreign Minister Abbas Araqchi voiced Tehran's readiness to expand ties with Tokyo.

"Iran and Japan had satisfactory relations during the sanctions-era as the two countries managed to maintain good mutual cooperation despite the difficult conditions of that time," Araqchi said in a meeting with his Japanese counterpart Shinsuke Sugiyama in Tokyo.

He thanked the Japanese government for opening a 10-billion-dollar credit line to facilitate trade exchanges with Iran, and said, "Continuation of this important step and making full use of this credit line will pave the way for participation of Japanese companies in Iran's economic projects."

Sugiyama felicitated Iran on the nuclear deal with world powers and the implementation of the Joint Comprehensive Plan of Action (JCPOA).

In February, Iran's Economy Minister Ali Tayyebnia and his Japanese counterpart Taro Aso in a meeting in Tokyo underlined the need for further expansion of mutual cooperation between the two countries, particularly in the economic and trade fields.

During the meeting in the Japanese capital, the Iranian and Japanese economy ministers explored avenues for bolstering bilateral ties.

"Cheap energy and labor in Iran and the region's big market are advantages for Japan to make its products competitive," Tayyebnia said.

Aso, for his part, reiterated that his country is ready for transfer technical know-how and conduct joint investments in Iran's infrastructure projects.

The Japanese economy minister said that Tayyebnia's visit to Japan can contribute to expansion of economic cooperation and boost the level of bilateral relations between the

two countries.

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Novo Nordisk singed the contract with Iran's Barakat Pharmaceutical Company on Monday.

The Danish company has obliged to make €70 million worth of investment to establish a plant for producing the medicine in the lands which belong to the Iranian company. 

Novo Nordisk will produce 'modern insulin' in Iran to meet the needs of Iranian diabetic patients and those in the regional countries.

Insulin is a hormone made by the pancreas that allows your body to use sugar (glucose) from carbohydrates in the food that you eat for energy or to store glucose for future use. Insulin helps keep your blood sugar level from getting too high (hyperglycemia) or too low (hypoglycemia).

If your pancreas secretes little or no insulin (type 1 diabetes), or your body doesn't produce enough insulin or has become resistant to insulin's action (type 2 diabetes), the level of glucose in your bloodstream increases because it's unable to enter cells. Insulin therapy is often an important part of diabetes treatment.

A senior official of the Danish company said the plant will provide 'diabetic treatment through high technology'.

Peter Soelberg added that the plant will not only transfer the technology of producing advanced medicines to Iranians, but also help generate jobs.

Rasoul Dinarvand, the head of Iran’s Food and Drug Organization, said Novo Nordisk has taken a big step for investing in the field of producing medicines in Iran.

"Iran can provide a good opportunity for Novo Nordisk to benefit from its lucrative market," he said.

Novo Nordisk says it is a global healthcare company with more than 90 years of innovation and leadership in diabetes care. 

Barakat activities

Barakat Pharmaceutical Company is one of the largest pharmaceutical holding companies with more than 20 subsidiaries.

Hamid Reza Jamshidi, the managing director of Barakat Pharmaceutical Company, said the company has established a 220-hectare pharmaceutical town in Alborz province.

He said the company has received scores of requests for cooperation with foreign and Iranian firms.

Jamshidi noted that Barakat has so far signed three contracts with companies from Switzerland, the UK and Denmark for producing medicines.

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