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Description: Markazi Foreign Commercial Center, The State Oil Company of the Azerbaijan Republic (SOCAR) is scheduled to start construction of a new natural gas pipeline to Iran in 2010., Iran's largest auto-manufacturer, Iran-Khodro Company (IKCO), announced that it has set a new record in the production of passenger cars in Iran and surpassed its last year production capacity of 600,000 units in just eleven months., The Iranian parliament is studying a number of proposals for the openingt of branches of six foreign banks in the country., Iranian Foreign Minister Manouchehr Mottaki and his Belarusian counterpart Sergey Martynov discussed ways to expand and strengthen the two countries' growing and comprehensive ties and cooperation, specially in the energy sector.

Keywords: markazi ,foreign, commercial, center, arak, iran, trade , ecommece, e-commerce, business, import, export amin shamsollahi aalikhani ashgari, Economic news, Economics, Azerbaijan to Start Construction of Gas Pipeline to Iran in 2010 The State Oil Company of the Azerbaijan Republic (SOCAR) is scheduled to start construction of a new natural gas pipeline to Iran in 2010. Tehran (FNA) - "It is expected that construction of the new pipeline will begin in 2010," Deputy Chief at Azerigas PU Nazim Samadzade said on Friday. UPI quoted Samadzade as saying that the SOCAR will build the 200-kilometer (124-mile) Sangachal-Azadkend-Astara pipeline. It will carry 18 million cubic meters of natural gas to Iran per day, the official said. "The existing Kazi-Magomed-Astara gas pipeline was constructed in the 70s and has been operating for 40 years. The maximal pressure of gas at the gas pipeline makes 18 atmospheres. To supply gas to Iran it is necessary to compress this gas at the gas compressor station in Astara to 55," Samadzade stated. In January, Azerbaijan's government piloted gas supplies to Iran after preliminary works and virtual operation of the pipeline proved satisfactory. The National Iranian Gas Export Company (NIGEC) struck a short-term agreement to import natural gas from neighboring Azerbaijan. The contract signed between NIGEC and the State Oil Company of Azerbaijan (SOCAR) envisages that gas supplied to Iran would be an approximate total amount of 100 million cubic meters by the time the contract ends in March - or about 1.2 million cubic meters of gas per day. "During the three-month period of the contract, the two sides will discuss another long-term agreement to import natural gas from Azerbaijan, up to 2 billion cubic meters per year," NIGEC managing director Seyed Reza Kassaeizadeh said. Depending on the demand, the volume of gas supply will be raised to 5,000,000,000 cubic meters per annum. Azerbaijan and Iran are linked currently via the 1474.5 kilometer-long Kazi-Magomed-Astara gas pipeline. In December Iranian Ambassador to Azerbaijan, Mohammad Baqer Bahrami, said that a new pipeline is needed to supply Iran with the 5 billion cubic meters of gas that it would like to import from Azerbaijan every year., Top news, Latest events, Iran-Khodro Registers New Record in Car Production Iran's largest auto-manufacturer, Iran-Khodro Company (IKCO), announced that it has set a new record in the production of passenger cars in Iran and surpassed its last year production capacity of 600,000 units in just eleven months. Tehran (FNA) - "The company produced 600,460 units of different types of passenger cars and pickups since the beginning of the current Iranian year (starts March 21, 2009) to February 13, 2010, while it had produced 600,006 units last year," IKCO Deputy CEO Javad Dehnadi said. "We achieved the new record eleven days earlier than the last year's record breaking," he stated, adding that IKCO has targeted the production of 680 thousand cars for the current year. Dehnadi reiterated that 93,920 different types of Samand, 150,929 units of Peugeot 405, 93,253 units of Peugeot Pars, 101,285 different types of Peugeot 206, 47,070 units of Peugeot Roa, 103,692 Bardo pickups, 6,552 units of Tondar 90 and 3,616 units of Grand Vitara as well as 143 units of other vehicles have been produced in IKCO so far. Earlier this month, IKCO had announced that it has increased its production rate by 16% since the beginning of the current Iranian year (March 20,2009). Iran's state-owned Iran-Khodro is the largest carmaker in the Middle East, Central Asia and North Africa, with an annual production of more than one million vehicles of various models, including cars, trucks, minibuses and buses. IKCO is also ramping up exports as it builds a global presence outside Iran. The company officials have said they want to boost annual production to more than a million vehicles and hike exports to more than 600,000 by 2016., Top news, Latest events, Parliament Studying Proposals for Activity of Foreign Banks in Iran The Iranian parliament is studying a number of proposals for the openingt of branches of six foreign banks in the country. "The demands from the foreign banks have been sent to the parliament by the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI)," Head of OIETAI Behrouz Alishiri said on Monday. He added that a special working group has been created by the Parliament's Economic Commission to deal with the issue. "Suggestions to remove the legal obstacles will be sent to the parliament in order to be discussed by the MPs in two weeks time," Alishiri was quoted by MNA as saying. He explained that a correction of the fifth clause of Article 44 of the Iranian Constitution could pave the way for the presence of foreign banks in the country. Article 44 of the Iranian Constitution had heretofore placed banking activities exclusively in the hands of government. In tandem with the Law on Usury Free Banking Operations, these two measures effectively blocked foreign banking operations from conducting business in mainland Iran. A handful of foreign bank branches and representative offices extant in the country were allowed to undertake administrative and coordination activities but were not permitted to open customer accounts within mainland Iran, receive deposits or extend normative facilities. Foreign banks were, however, under special conditions, allowed to function in Iranian free zones., Top news, Latest events, Iran, Belarus Confer on Joint Energy Cooperation Iranian Foreign Minister Manouchehr Mottaki and his Belarusian counterpart Sergey Martynov discussed ways to expand and strengthen the two countries' growing and comprehensive ties and cooperation, specially in the energy sector.

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