Since unification . . . Yemen is on the move [Archives:2002/21/Business & Economy]

MAHYUB AL-KAMALI
YEMEN TIMES STAFF
Twelve years after the reunification of Yemen, the new republic is a country making moves on the stage of world trade.
The market-oriented policy adopted by the new Yemen has helped the flow of investment in the country, and more than 25 foreign companies are now operating here.
In turn, Yemen has set up joint committees with more than 20 countries to continue to boost trade relations and investments.
It has completed the construction of Aden Container Terminal, which will help boost trade and industry at Aden Free Zone.
And Yemen is paving the way for its accession to the World Trade Organization (WTO).
Such are some of the signs of a growing international presence.
Here are some of the other key steps taken since unification.
First, Yemen signed many development agreements with Egypt, Morocco, Turkey, Tunisia and Oman.
At the same time Yemen signed another agreement with Oman for financing the Aden Company for Flour Mills & Silos.
It signed agreements with the countries of the Horn of Africa with a view to boosting its economic ties with countries on the other side of the Red Sea.
Yemen broadened its cooperation with Iran through the signing of a number of agreements and memorandum of understanding.
It signed agreements with Poland in 1993, loan agreements with the Arab Fund in January 1994, cooperation protocol with Egypt regarding fisheries June 1996, trade agreements with Morocco in 1996 and agreements with the European Union (EU) in 1997.
It also signed a host of loan agreements with the International Development Association (IDA), Islamic Bank for Development and the Kuwait Bank.
Yemen also got many grants and debits exemptions totaling $6.7 billion and received new loans to supplement the economic reform program from some donor countries.
The Post-reunification Yemen also has taken part in international conferences related to development and trade.
Yemen took part in the first conference for the least developed countries (LDC) in Paris 1990. It called for increasing the assistance to poor countries from 15 percent as well as writing off debits at the second conference held in Rome.
It also partook at the Earth Summit held in Rio de Janeiro, Brazil, and the international conference on population held in Cairo in 1994.
The most important outcomes of the presidents visit to China in 1998 was the signing of an economic trade agreement, as well as promoting investment and a military cooperation.
Also, during the presidents visit to Malaysia, President Saleh signed a trade agreement and a technical cooperation agreement for developing industries.
Within the same Asian tour, president Saleh visited Indonesia and signed many trade and economic agreements.
Yemen has consolidated its ties with the Association of South East Asian Nations (ASEAN), European Union (EU), Gulf Cooperation Council (GCC) as well as other world groupings.
Yemen also signed many agreements with Syria, Jordan, Qatar and Saudi Arabia in the field of trade zones development.
The reunification of Yemen has also brought the adoption of the economic reform program under the technical assistance of the World Bank (WB) and the International Monetary Fund (IMF) as well as the support of the donor countries toped by Germany, the Netherlands and Japan.
The adoption of the privatization policy has also contributed to the flow of foreign capitals to purchase public enterprises now for sale.

——
[archive-e:21-v:2002-y:2002-d:2002-05-20-p:./2002/iss21/b&e.htm]