Yemen & Iran: Wide Ranging Trade Relations [Archives:2001/29/Business & Economy]

July 16 2001

The 5th Round meetings of Yemen-Iran Joint Committee for the Economic Cooperation resulted in extending the current trade relations and following up mutual agreements signed between the two countries. This is actually a clear development in Sana’a-Tehran relations which are enhanced by exchange of visits by businessmen from the two countries and holding trade exhibitions.
Meetings of the Joint Committee were held in Tehran. These were attended by the Planning Minister of Yemen Mr. Ahmad Mohammed Sufan and Iranian Agricultural Minister Mr. Mahmood Hajati. There were agreements to facilitate banking and abolish duality of taxes. They also agreed on industrial and agricultural cooperation, and take necessary steps to ensure active participation of the private sector to establish joint ventures. The Iranian side expressed willingness to cooperate with Yemen in the field of exchanging expertise, scientific information and educational materials. For the past few years, the Yemeni-Iranian relations have witnessed clear developments. Iranian companies have organized 14 trade exhibitions in Yemen. This has also enhanced the trade exchange between the two countries.
Official statistics indicate that the trade exchange between Sana’a and Tehran has gone up from $1 million during the past five years to $25 million. Besides, the businessmen of the two countries are exploring investment opportunities in trade, transportation and information to strengthen the mutual ties.
Yemen is a good consumer market for Iran. Yemen imports many of its products including home appliances, carpets, electrical equipment, etc.
Therefore, the fifth round meeting of the Joint Committee is exploring the possibility of further strengthening mutual cooperation in many fields to the benefit of the two countries. Tehran is also determined to maintain and promote its trade ties with Sana’a so as to restrict the impact of foreign products in the markets of the developing countries.