Baku, Azerbaijan, Apr.29
By Fatih Karimov - Trend:
Iran and Northern Iraq autonomy signed an oil and natural gas trade agreement.
Rostam Qasemi, Secretary of the Iran-Iraq Economic Development Headquarters signed the deal with the Northern Iraqi Regional Government's energy minister Ashti Hawrami, Iran's Mehr news agency quoted Abullah Akrayi, the Norther Iraqi Regional Government official responsible for Iran affairs, as saying on April 29.
Based on the agreement, two pipelines will be built between the Northern Iraqi region and Iran. Northern Iraq will transfer crude oil to Iran via the pipelines and will receive 3-4 million liters of oil products and natural gas in return.
There are signs of growing trade between Iran and the autonomy of Iraq's Northern Region. The Parviz Khan border crossing in western Iranian city of Qasr-e Shirin has now been named the most active trade checkpoint out of 86 crossings between Iran and Iraq, Press TV reported in June 2013.
Trade levels started to increase after former Iraqi dictator Saddam Hussein was toppled in 2003.
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