Private sector engaged inYemen efforts to join the WTO [Archives:2005/877/Business & Economy]

Yemen is currently preparing replies to explanations sent by the WTO member states and work is underway to reply to the additional questions that Sana'a has received. Yemen is also preparing papers for the upcoming meeting with the organization to make ready the papers of accession. This would be followed by the important phase pertaining to negotiating individually with each country that has asked to negotiate with Yemen.

The ministry of industry and trade has called on Yemeni businessmen to actively participate in preparation of Yemen's economic structure required for joining the WTO. Yemeni businessmen are requested to take initiatives producing benefit for the country and making the state as supportive to that, particularly regarding the establishment of industries in the field of food that would lessen the gap in the balance of import, which it is more than 50%. The ministry is keen on establishing partnership between the government and the private sector in the process of preparing for negotiation and the process of negotiation itself because engagement in the economic decision of the country has become the responsibility of all and all political decisions in the developed world are built on the economic decisions.

69% of Yemen's exports depend on oil and this in itself is a disadvantage, whereas 50% of imports are almost food-related though there is ability to producing and manufacturing them domestically. This situation imposes the joining of all efforts for facing this disorder. Head of the communication and coordination bureau with the WTO Najib Hamim says the steps and procedures the Yemen has taken since 1998 up until now for the purpose of joining the WTO were accompanied by dialogue between the government and the private sector. In this regard, the government has taken into consideration that the private sector should be an indispensable partner in the whole process. That has been realized in the past years and at this time their opinions are listened to and they are involved in working out necessary papers and offers for the completion of the joining process.

Until a short while the Yemeni economic policy has been dependent on encouraging the private and public sectors in the area of industrial investment and that was reflected on employment of the public sector of around 53% of big industry labour, particularly in the areas of textiles, cement and oil refinery, while its share is largely getting reduced in small and medium enterprises. By its future plans, Yemen also works for activating this sector and tackle the problems that impede its development by enhancing the role of the private sector and increasing its activeness so that to perform its role in developing national industries and encouragement of industries depending on local raw materials. Yemen also works for development of industrial exports to keep pace with requirements of development, increasing rates of exploiting the existing productive energies, improving quality of production beside the establishment of industrial zones in three industrial areas in the triangle of Aden, Lahj, Abyan and the region of Brum in the governorate of Hadramout and crossroads of Hardh-Salif in Hudeidah governorate, in addition to providing all facilities and services in them.

The balance of trade between Yemen and the world has during 2004 achieved a surplus amounting to YR 17 billion, 52 million and 800 thousand scoring an increase of YR 6 billion, 283 million and 400 thousand compared to the year before.

Statistics of the foreign trade between Yemen and world countries during 2004 have attributed that to rise in exports at a higher rate against imports. Exports in 2004 had witnessed an rise amounted to YR 753 billion, 595 million and 900 thousand while growth in imports for the same period did not exceed 9%. The statistics of external trade have confirmed that there are positive indicators and improvement in their performance despite of regional and international developments that have not been convenient. Exportation and re-exportation have registered an increase amounted to YR 68 billion, 688 million and 200 thousand compared to growth by about 16.9% in the year before.
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