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Iran to form border market with Iraq, joint gas extraction study group with Qater

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TEHRAN: Governors-general of Ilam Province in western Iran and Diyala Province in eastern Iraq signed MoU to open a joint border market on Thursday.

Ilam Governor-General Hassan Bahramnia said in the signing ceremony that the two provinces have ethnic and cultural commonalities which provides the best opportunity for business interactions.

He promised that a piece of land would be selected later today and the construction would start in the near future after receiving required authorizations from the Ministry of Foreign Affairs.

Diyala Governor Muthana Al-Timimi said that the central government in Iraq had rejected a similar agreement previously, but he promised to secure Baghdad’s agreement with this MoU.

Meanwhile, a source in Iran’s Oil Ministry told state run news agency that the oil ministers of Iran and Qatar will discuss gas swap, common stances in global market and forming joint study group on the sidelines of the upcoming GECF in Doha.

The Gas Exporting Countries Forum will be held next week in Qatar and the Iranian oil minister will meet his Qatari counterpart on the sidelines, the source said economic correspondent on Thursday.

The two ministers will discuss gas swap, common positions in gas trade and global markets, and establishing joint knowledge-based companies in the field of oil and energy, according to the source.

The organization also operates 38 percent of global gas pipeline transit and 85 percent of global LNG trade.

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