Free trade is among the plansPakistan and Yemen ink deals [Archives:2004/718/Local News]

March 8 2004

The concluding session of Pakistan – Yemen Joint Ministerial Commission (JMC) meeting was held in Sana'a t recently.
The JMC meeting that continued for two days, deliberated upon all areas of bilateral mutual cooperation with focus on economic and commercial relations. The Minister for Commerce Humayun Akhtar Khan and the Yemeni Minister for Industry and Trade Dr. Khalid Rajeh Sheikh, besides signing the agreed Minutes, inked three agreements on trade, health care co-operation and double taxation.
The two sides reiterated their commitment to enhance bilateral economic, trade, commercial, industrial, cultural, scientific and technological, agricultural and cooperation in the field of health.
Both countries underlined the importance of exchange of visits of experts and business and trade delegations.
They also agreed to establish linkages between educational institutions of the two countries.
Both sides considered declaring port cities of Aden and Karachi as twin cities as a mark of close and brotherly relations between Yemen and Pakistan.
Earlier, the Minister for Commerce called on Vice President, Abdu Rabbu Mansour Hadi, Prime Minister Abdulqadar Ba-Jamal and Deputy Prime Minister and Minister for Planning and International Cooperation where the Minister for Industry and Trade was also present, it was agreed that in order to enhance trade relations between the two countries, as well as to expand trade in the region.
Pakistan and Yemen will start negotiations for signing a Preferential Tariff Agreement (PTA) leading to a Free Trade Agreement (FTA). In this connection Yemen will send a technical delegation to Pakistan within next three months and as soon as modalities are finalized the Yemeni Minister of Industry and Trade will visit Pakistan to sign such an agreement.
The Pakistani side also expressed willingness to send a technical delegation to Yemen in this regard, if so required. They also reviewed bilateral, regional and international issues of common interest.
They noted with satisfaction the progress made at the JMC meeting and emphasized that the excellent bilateral relations, which the two countries have been enjoying, should be reflected in their economic and commercial ties.
The Minister for Commerce conveyed good wishes to the Yemeni leadership from the President and the Prime Minister of Pakistan. The Commerce Minister accompanied by the business delegation addressed the Sana'a Chambers of Commerce & Industry and urged the Yemeni businessmen to explore possibilities of enhancing further trade between the two countries.
The two sides agreed to hold single country exhibitions in Pakistan and Yemen. A protocol on Economic Cooperation between Federation of Yemen Chambers of Commerce and Industry and the Federation of Pakistan Chambers of Commerce and Industry was also signed.