Yemen & Gulf StatesActivation of economic & trade partnership [Archives:2003/653/Business & Economy]

July 24 2003

By Yemen Times Staff
The Gulf-Yemeni working group that held its meetings in Sana'a recently has come out with signing a minutes in which the two sides have stressed the significance of effecting identicalness of Yemen's program for economic and financial reform and its outputs to
The GCC's laws and regulations.
According to the minutes the group has identified a working program to be discussed during the coming meeting, pertaining to the possibility of Yemen accession to some of the GCC's bodies. Yemen looks forward to closely cooperating with the GCC states and realizing the goals hoped for from the economic and trade integration among the Council's member states.
The Meeting held under co-chairmanship of Yemen's foreign undersecretary Abdulla Ali al-Radhi and Mr Mohammed bin Ubeid al-Mazrouie, assistant secretary -general for economic affairs at the GCC had reviewed in general the existing cooperation between Yemen and the Gulf States.
The two sides have agreed on the necessity of activating the role of Yemen and its partnership with the Gulf States, and choosing a bunch of laws and regulations that are deemed to be part of outputs of the Yemeni program for the administrative and financial reform. They also agreed to include them in lists to be considered in the process of implementing identicalness or harmony in this respect.
The fields of research and comparison have also included the laws of industry and trade and customs and also the law of investment.
It has been decided to hold the third meeting of the group in Riyadh, Saudi Arabia beginning of January 2004. The third meeting is scheduled to continue discussion of the topics agreed upon for the purpose of speeding up Yemen's accession to Gulf economic and trade organizations. This would open the way for Yemen to benefit from that accession.