Yemen & China Towards a Wider Trade Exchange [Archives:2001/37/Business & Economy]
Yemen and China signed various agreements at the conclusion of the 5th round of meeting of the joint Yemeni-Chinese committee held in Beijing. The agreements aim at enhancing the bilateral relations and developing the horizons of trade, economic, medical and cultural cooperation. The meetings of the 5th round of the Yemen-Chinese joint committee coincided with the 45th anniversary of establishing distinguished and friendly relations between both countries which have undergone development in different fields.
Yemen and China strive to increase trade exchange, expand the fields of bilateral investments and provide facilities and regulations that ensure the creation of an investment partnership, particularly at the Aden Free Zone. During the 5th round meetings of the Yemen-Chinese joint committee in Beijing, possibilities of Chinese participation in investing in Aden Free Trade Zone were also discussed. On the other hand, the Peoples’ Republic of China expressed its willingness to upgrade the Textile Factory in Aden in order to meet the demands of the neighboring Arab and African markets. This statement came during the visit paid by the deputy-chairman of the National Council of the Chinese Advisory Congress to Aden Free Trade Zone. Furthermore, Beijing promised to encourage Chinese corporations to invest in the Republic of Yemen, especially in the field of electronics assembling and textile industry as well as providing these plants with the required trained manpower.
Yemeni-Chinese relations undoubtedly progressed following the visit paid by President Saleh to China in February, 1998. Since then, many Chinese companies have flown to Yemen for implementing road construction projects and investing in oil exploration.
It is also worth mentioning that Yemen and China are bound by bilateral agreements and memorandums of understanding for enhancing economic cooperation. In addition, the People’s Republic of China grants Yemen 155 scholarships for high school graduates and provide training courses for Yemeni instructors working in the Industrial Vocational Institute in Sana’a as well as three scholarships for the top three graduates of the institute. Similarly, Yemen gives 10 university scholarships to Chinese students.
China finds in Yemen a wide market for its different products such as electronics, house appliances, and other equipment. Meanwhile, China signed an agreement with the Republic of Yemen to buy Yemeni oil directly and not through London Market. On the other side, many Yemeni firms opened import offices in China.
Subsequently, the Yemeni-Chinese relations will witness further development in the upcoming years. Yemen finds indeed in Chinese moderate foreign policy, its support for the Palestinian cause, and her policy of non-intervention in the internal affairs of foreign countries an encouraging factor for enhancing relations between the two friendly nations.