Yemeni-Chinese Higher Committee signs partnership agreements [Archives:2004/724/Local News]

March 25 2004

Mahyoub Al-Kamaly
The Yemeni-Chinese Joint Higher Committee held a meeting in Peking Monday 24 March co-chaired by Yemen's Prime Minister Abdulqader Bajammal and President of the Chinese State Council Wun Jiabao. It is scheduled that the meetings would yield positive results regarding the conclusion of a number of agreements aimed at consolidation of cooperation between the two countries in development, investment and trade areas in addition to development of the Free Zone in Aden.
The agreements include areas of education, oil, electricity, training human resources, communications and discussion of helping Yemen in for organisation of training courses in economic administration. The Chinese investments in Yemen are presently increasing and their value in this year amounted to $150 million. China is also undertaking the implementation of a number of vital projects during the next months. Among these are projects for expanding the Jassua power generating station in Aden and investment project by the Overseas Company.
The Overseas Company invests in building a hospital in the capital Sana'a costing $100 million and a $ 50 million worth productive project in the Free Zone in Aden.
Peking meetings are also to contribute to deepening trade and economic cooperation in embodiment of what the joint higher committee has reached since its formation on 1987.
The total number of agreements concluded between Sana'a and Peking amounted to 79 agreements, minutes, and protocols, memoranda of understanding and executive programs covering various areas. Recently some 12 Chinese companies entered the Yemeni market for carrying out contracting and constructions works.
Yemen has also received loans and financial assistance from China to finance projects pertaining to industrial, trade, agricultural, health, arts, roads, and educational fields. The volume of the exchange of trade between the two countries in the past year amounted to one billion and 900 million dollars, out of which one billion and 545 million dollars the value of Chinese imports from Yemen, mainly oil.