Yemeni-Iranian committee,Signs a number of agreements in Tehran [Archives:2004/748/Business & Economy]

June 21 2004

Mahyoub Al-Kamaly
The Yemeni-Iranian joint committee chaired by deputy premier, the minister of planning and international cooperation Ahmed Soufan began its meetings in Tehran on Sunday.
The committee studied minutes of the committee's previous meetings and signed a number of agreements pertaining to enhancement of trade cooperation and exchange of trade between the two countries.
Meeting of the committee comes after the balance of trade between the two countries has seen substantial growth during the past years. The balance of trade had last year reached to around $ 28 million while Yemeni businessmen confirm there are spacious areas for increasing trade exchange between the two countries. Iran extends to Yemen technical expertise in areas of training and qualification and offering financial assistance for financing some Yemeni charitable projects.
Iranian companies and firms have contributed to implementation of investment projects in Yemen, among them the Nees Company for contracts that contributed to accomplishment of the oil port in Hudeidah according to the latest world technology and specifications.
The joint committee had held its first session in 1992 and signed then more than 49 agreements and memoranda of understanding and minutes. They focused on areas of cooperation in trade, economy, culture, education, communications and post. Among the important agreements concluded between the two countries were an agreement on sea maritime navigation and development of exports, a memorandum of understanding between education ministries of the two countries and a minutes on cooperation agreement in the field of fish wealth.
Meetings of the committee in Tehran resulted in positive outcomes for consolidating relations of the two countries in trade, investment and economic areas.