Yemen & Pakistan: Steps for developing economic relations [Archives:2004/711/Business & Economy]

February 12 2004

Mahyoub Al-Kamaly
Meetings of the fourth session of the Yemeni-Pakistani joint committee are scheduled to be held in Sana'a 14-15 February 2004 where there would be discussion concerning the existing bilateral cooperation.
The joint committee would discuss 17 projects on cooperation in various fields the major of which are an agreement on avoiding dual taxation, the trade exchange, health, education, culture and endowments as well as guidance and information.
The two sides are also to discuss an agreement on cooperation between the federation of the chambers of commerce and industry, technical education and vocational training as well as specifications and standardization's.
Yemen and Pakistan have been connected with trade cooperation relations since 1972. The volume of trade exchange between the two countries amounted in 2002 to around YR 3.73 billion, of which 3.42 billion the volume of Pakistani exports to Yemeni market and 309 million worth the volume of Yemeni exports to Pakistani market.
Yemen is willing to develop its trade relations with Pakistan and the equilibrium of the balance of trade between them, especially that the volume of trade surplus is still tilting towards Pakistani exports to Yemen by YR 3.11 billion.
The joint committee had held its first meeting In the Pakistani city of Karachi in 1988 when it had agreed to develop the areas of trade exchange between the two countries. And in 1991 the second session of the committee was held in Sana'a where there had been a signing of a minutes on cooperation in trade, industry, agriculture, construction, communication, fish, health, culture, and tourism areas and Yemen then obtained a loan of five million dollars.
In 1999 the third session of the committee was held in Karachi and the two sides signed an agreement on economic and technical cooperation and another agreement for protection and encouragement investment in the two countries.
In 2001, the two countries signed an agreement on air transport which in turn enhanced the agreements already concluded by the two sides and those agreements included protocols and understanding memoranda and executive programs for strengthening and developing areas of bilateral cooperation.
It is therefore the government of Yemen desires to see the fourth session in Sana'a producing positive results for evolving trade, economic and investment relations with the government of Pakistan. Yemen also seeks to benefit from Pakistani administrative and technical experiences as well as in the field of textile, leather, glass and plastic materials industry.