Undeveloped overland transportation impedes,Trade exchange movement with Saudi Arabia [Archives:2003/638/Business & Economy]

June 2 2003

Yemen Times Staff
The recent visit by a Saudi businessmen delegation to Yemen headed by Mr. Abdurrahman al-Zamil resulted in agreement with Yemeni chambers of commerce and businessmen, the agricultural cooperative union and the state organization for investment on working together towards expanding horizons of cooperation and trade exchange and developing common interests, as well as removing challenges impeding the two countries' mutual exports.
The two sides have agreed to set up a joint committee to solve problems, activation of Yemeni-Saudi businessmen council and chambers of commerce and industry and also activation of agreements concluded between the two countries for expanding the scope of exporting agricultural and industrial products of the two sides. Both sides have held seminars at the Sana'a forum where they studied and discussed the more important issues facing streamline movement of the two countries' products and encountering difficulties they are experiencing. The meeting reached an emphasis that the international situation and circumstances of globalization dictate it as imperative to move bilateral relations from the status of neighborly to an economic partnership between Yemen and Saudi Arabia. They emphasized on exchange of joint benefits and interests in vital areas for the purpose of increasing the volume of trade exchange which now does not exceed YR 38 billion.
One of the most prominent impediments and difficulties the Yemeni and Saudi businessmen complain of is the weakness of overland means of transport that hinder trade movement between the two countries. They recommended the necessity of activating the agreement on facilitating traffic of goods and vehicle movement between the two sides.
The Saudi delegation paid a visit to the free zone area in Aden and expressed readiness for expanding the Saudi investments in the free zone due to the strategic and economic situation it entertains.
Yemen's Prime Minister Abdulqader Bajammal affirmed during a meeting with the Saudi delegation that Yemen encourages the private sector in the two countries to contribute to establishment of an industrial zone in Aden and Hudeida in the manner achieving more joint integration and work.
Deputy Premier, the minister of planning and international cooperation Ahmed Soufan stressed the possibility of raising the level of trade cooperation of the two countries while head of the Saudi delegation Abdurrahman al-Zamil said there was possibility for cooperation especially in areas of meats processing and building factories for food stuffs in Yemeni industrial zones. Yemeni trade sources expected that the visit of the Saudi delegation of businessmen to develop trade and investment relations, development of exports and improvement of transport means between the two countries.