Yemen and OmanExchange of expertise in fish research [Archives:2004/726/Business & Economy]

April 5 2004

Mahyoub Al-Kamaly
Yemeni-Omani talks held by an Omani delegation headed by the minister of agriculture and fish wealth Sheikh Salem bin Hillal, during a recent visit to Sana'a, focused on the two countries cooperation in fish research, studies on fish reserve and cooperation in monitoring and inspection as well as quality in fish production.
The Omani side agreed during its meetings Yemeni officials in Sana'a on exchange of expertise in the area of fish wealth and the two sides reviewed the areas where the private sector in both countries can invest as well as industrialization and marketing. During a meeting with Mr Mohammed Mujwir, Yemen's minister of fish wealth, the Omani delegation got acquainted with areas of cooperation and discussed the best ways for enhancing relations and partnership in investment in available for businessmen in both countries.
Yemen's fish market is considered an extension of Omani markets and here are good opportunities for increasing exports of the two countries and also the volume of trade exchange, especially that the Omani products receive a good demand from the Yemeni consumers.
Trade indicators in the two countries reveal that Omani imports from yemen during the period 1998-2002 has grown at an average of 36.8% while the Omani exports to Yemen dropped by annual rate of 22.2%.
Yemen has jumped to occupy the 49th instead of the 52nd of the countries that export to Oman. This progress has contributed to an increase in the value of revenues from the Sultanate by 97.7% amounting to about 2.9 Omani riyals in the year 2001. This proportion represents 0.1% of the total imports of the Sultanate of Oman, amounting to OR 2309.1 million.
Yemen had in 2002 retreated from the third position to the 12th in the arrangement of the 125 countries importing from the Sultanate. The value of non-oil exports has then dropped by 72.2%.
It is to be noted that the balance of trade between the two countries was, in the period 1998-2002, tilted in favour of the Sultanate of Oman. The surplus in the balance of trade of Oman in Yemen was; OR 51.6 million, 34 million, 57.2 million, 67.9 million and 16.4 million consecutively.