In Brief [Archives:2005/835/Business & Economy]

April 21 2005

– Yemen and Mauritania signed six bilateral agreements in the Mauritanian capital city. The agreements include the political, diplomatic and cultural fields as well as scientific research, vocational training, trade and commerce, encouragement and protection of investment and religious affairs and endowment.

– During his visit to China, Dr. Khaled Rajeh Sheik, Minister of Industry and Trade, discussed with Vice President Chung Hi and a number of businessmen the possibility of Chinese investment in an industrial free zone in Yemen.

– Ahmed Mohammed Sufan, Deputy Prime Minister, Minister of Planning and International Cooperation, and Mrs. Yulin Hayz, UK Middle East Official, discussed the aspects of bilateral cooperation between Yemen and the UK. They talked about preparations for the new grants to Yemen and the future cooperation in the coming three years.

– The Yemen and Arab Fund for Economic and Social Development signed an agreement for a loan of $US50 million to finance the third step of the Social Fund for Development (SFD). The loan will be used to finance a number of developmental projects in all development of social and economic fields, particularly social development projects and supporting micro-projects being executed by SFD.

– Yemen and the USA agreed on a modified US Grants Program. According to the meeting minuet, the program recommended sponsoring highways and agricultural projects in Abyan and providing financial assistance to the fishing port in Hodieda. It also underlined the importance of animal wealth, environment and development projects in a number of provinces including Socotra. The two sides agreed to use $US 500,000 of the grant as a secondary grant for an SFD project to train nurses in Shabwa, and Al-Jawf.

– Iqbal Bahadir, Deputy Minister of Industry and Trade, confirmed that there is a partnership between the government and the private sector concerning the negotiations on Yemen's ascension to the WTO. “Partnership between the two sides is the focus of the state systems,' Mr Bahadir said. He also confirmed that the dialogue between the two sides is continuing but that it is below their expectations.

– The Ministry of Local Administration executed 329 projects at the cost of YR 4,904,141,096 during 2000 and 2004. These projects covered the fields of local administration, education, and health in addition to water, roads, guidance and endowment sectors.