Foreign ministry official Chen Chun-shen says that resumed imports of Iranian oil will improve Taiwan's energy security.
Chen is the foreign ministry's head of West Asian and African Affairs. He says that Iran has the world's largest natural gas reserves and the world's third-largest petroleum deposits.
He says Iranian oil will return to the international market after the lifting of US and EU sanctions in January.
Chen said that buying Iranian oil will help Taiwan diversify its oil sources. He said that Iran is Taiwan’s third-largest trading partner in the Middle East, though much of this trade consists of re-exported goods. He says he is confident that Iran, with its young population and strong purchasing power, is a potential market for information and communications technology, machinery, and auto parts.