Japanese companies have been cautious about participating in reconstruction activities in Iraq due to security concerns. In its Travel Advice report issued last November, the Japanese Foreign Ministry warned that “bomb attacks against civilians, terrorism and other attacks occur on a daily basis in Iraq, and that the security situation throughout the country remains severe.”
This warning is greatly responsible for the lack of interest by Japanese companies to do business in Iraq, according to experts.
Inpex Corp., however, plans to bid for Iraqi oil development if Iraq holds a competitive bidding process open to foreign companies, Inpex President Toshiaki Kitamura told Japanese media in a recent interview.
Minister Ohata said in Baghdad he will encourage Japanese companies to actively engage in business in Iraq.
His visit to the Iraqi capital was not announced by the Japanese Economy, Trade and Industry Ministry (METI). It said earlier that Ohata would make a six-day trip to Saudi Arabia and the United Arab Emirates, starting from Friday.
Japan is promoting infrastructure technology business, including nuclear power plants, in the Arab countries and seeking stable oil supplies from there.
Japanese crude oil imports from Iraq amounted to 3,6 Million barrel last November. This represents 3% of total Japanese crude imports in that month according to METI.
(Sources: PanOrient News, AKnews)
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