Yemen, Ethiopia, Sudan meetings yield,Setting up specialized council for businessmen in trade sector [Archives:2003/659/Business & Economy]

August 14 2003

Mahyoub Al-Kamaly
The Yemeni-Ethiopian-Sudanese joint committee that held its meetings in Sana'a lately has come out with agreement on the formation of specialized businessmen council from the trade sector in the three countries aimed at developing cooperation in diary, leather and vegetable oils industries in addition to the commerce of cereals and beans.
The tripartite agreement also included the development of relations between commercial banks in the three countries with the aim of facilitating trade relations and money forwarding.
Though the volume of trade exchange is still small the meting was keen on giving a push for enhancing the economic and trade partnership between Yemen, Sudan and Ethiopia that work for the establishment of a new regional league grouping Djibouti, Kenya and Somalia in future. The grouping also aims at upgrading bilateral relations between businessmen in the countries of the tripartite grouping, and for this purpose the committee agreed on founding a holding company for investment in the field of food security, production and storing.
The three countries face similar circumstances with regard to food shortage but all of them possess potentials for integration in increasing agricultural production and exchange of information and expertise in storing and marketing areas.
The committee also had agreed on exchanging information and expertise in veterinary medicine and controlling animal diseases. The minutes signed by representatives of the three countries has confirmed the importance of cooperation in the field of fighting smuggling and agreement on holding trade fairs in a regular way and cultural and sport activities.
Trade sources in Sana'a expect that the relations of trade exchange between the three countries would witness great development during the coming period especially in the field of exchange of agricultural and animal production.