$780 million, exchange of trade volumeYemeni-Indian Commission discusses trade & investment cooperation. [Archives:2003/674/Business & Economy]

October 6 2003

Yemeni-Indian Commission holds its 5th session in Sana'a in December aimed at expanding bilateral relations, developing areas of trade exchange and establishment of effective and active partnership within the League of Indian Ocean Countries.
Official sources in Sana'a said the session meetings would enable the two countries to study possible prospects to enhance investment partnership of Yemen and India. Such partnership that would aim at improving the balance of trade and develop economic relations among the Indian Ocean countries.
The commission's meetings come amidst positive indicators on exchanged exports and imports by markets of the two countries especially in the exchange of industrial and agricultural products and construction equipment.
Government sources report that meetings of the Yemeni-Indian joint Commission would be coinciding with convening of the Yemeni-Indian Businessmen Council and that would enhance and expand bilateral cooperation in various areas.
The Indian Charge d'Affaires to Sana'a O. P. Bajaj says that India was during the years 2001-2002 one of the prominent importers of Yemeni products and one of the biggest exporters of Indian goods to the Yemeni market.
In a statement published in Yemeni daily Al-Thawra lately the Indian Charge d'Affaires he has said that his country has analyzed about 200 categories and found out that India is the first and biggest exporter to Yemen as it exports about 46 kinds of goods. Indian products occupy the third place among the countries exporting goods to the Yemeni markets of other 73 merchandise and the fourth place among countries exporting goods from among the 81 remaining goods categories. He has clarified that the volume of trade exchange during the 2002 has amounted to around $780 million.