Yemen and Lebanon seek to, Activate areas of economic & trade partnership [Archives:2004/752/Business & Economy]

July 5 2004

Yemen and Lebanon are associated with growing political and economic relations embodied by a language of understanding and the two countries' desire for activating cooperation in all fields in a manner enhancing economic integration and incorporation among the Arab countries.
The expected visit by the Lebanese prime minister Rafiq al-Hariri to Yemen scheduled in the mid of July, the first of its kind of a Lebanese prime minister, comes to activate agreements signed between the two countries, particularly agreements on avoiding taxation duality, economic cooperation, encouragement of investments and cooperation in areas of specifications and standardizations in the two countries. According to well-informed economic sources in Sana'a al-Hariri talks with the Yemeni officials would be focused on taking measures for preparation of draft agreement to establish a free trade zone and an agreement on developing exports between the two countries.
The sources clarified that Yemen and Lebanon intend during the talks of al-Hariri to achieve the farthest possible extent of steps of economic coordination and cooperation between the two countries and also upgrading functions of the joint committee to be chaired by the two countries' premiers, in addition to signing a group of agreements and protocols in economic and trade fields aimed at developing future bilateral relations.
Lebanon had earlier proposed the establishment of a joint Yemeni-Lebanese company for construction materials. The Yemeni side, in person of the prime minister Abdulqader Bajammal, had the beginning of last June welcomed a proposal on developing the relations between capitalists and businessmen in the two countries.
Although the volume of trade exchange between the two countries is still law, al-Hariri expected visit would discuss the possibility of overcoming difficulties of transport and development of trade and economic relations as well as establishment of investment partnership between the private sectors in the two countries.
There are some Lebanese investments in Yemen, and activities of charitable associations; aiming them the cooperation between the Lebanese Arab Center for Engineering Investments and the Yemeni Bakshan Trading Company working in medical field, especially in the plastic surgery, cancerous diseases and treatment with radioactivity.
The Lebanese Mercy Organisation supports projects in Yemen in areas of education, mother and child health, reproduction health, as well as training a number of woman cadres for offering medical services. Yemen and Lebanon are related with a media agreement stipulating on the exchange of media and program materials, varieties and serials in addition to encouragement of holding direct cooperation between the news agencies in the two countries.
The agreement also stipulates that the Lebanese side would train Yemeni media men in press production, computer graphics and development of marketing skills and information planning.
It is expected that the Lebanese prime minister visit would result in coming out with positive outcomes advancing the economic and trade relations and the realization of the farthest amount of bilateral cooperation I fields in the future.