Business links to improve with Germany and Eritrea [Archives:2005/819/Business & Economy]

February 24 2005

Yemen and Germany will sign two agreements to protect and encourage investment and to terminate dual taxation between the two countries during the prospective visit of the German Chancellor Gerhard Schroder on March 2-3, 2005.

“German businessmen accompanying the German Chancellor will sign a number of commercial and investment agreements and contracts with Yemeni businessmen,” said Mr. Frank Marcos, German Ambassador to Yemen.

The visit, which is the first for a German Chancellor, is expected to open horizons to Yemeni-German cooperation. “Representatives from the German company of Siemens will come with the delegation to finalize the contract of establishing a gas-powered electricity station which will add some 300 megawatt to the present amount of electricity,” added the Ambassador.

The joint Yemeni-Eritrean committee is also expected to hold its meeting in Asmara at the end of March, 2005.

“The Yemeni side will be headed by Minister of Foreign Affairs Dr. Abu Bakr al-Qirbi, while the Eritrian will be headed by his counterpart Ali Sayid Abdullah,” said Hashim Sharaf, Deputy Ministry of Planning and International Cooperation.

The Committee will discuss a number of issues, most important of which is the investment and economic cooperation between the two countries such as the establishment of a joint fishing company.

Many cooperative agreements will also to be signed in areas of culture, transportation, higher education, security, commerce, industry, and fisheries.