Yemeni-Saudi Coordination Council enhances the countries partnership [Archives:2003/649/Business & Economy]

July 10 2003

Mahyoub Al-Kamaly
The latest session of the Yemeni-Saudi Coordination Council held in Sana'a has come out with signing seven economic investment, security and trade agreements. The Council's 15th Sana'a session has resulted in positive results that would develop and enhance bilateral relations in all areas. An analytical consideration of the session's outcomes the meetings have asserted a qualitative and positive development at all levels and economic partnership. The agreements have centred on:
– Granting Yemen a $38 million loan funding a project of building highways. The project aims to enable the Yemeni government complete the infrastructure of roads. The loan is to be granted by the Saudi Fund for Development.
– The second axis of the agreements centres on developing the inter-tourism. In this regard an agreement was signed on tourist cooperation aimed at activating tourism in the two countries and making for losses of the tourist sector.
-The third axis is the work for expanding spheres of educational field in addition to technical education and vocational training.
The agreement is in harmony with Yemen's heading for development of its work manpower and development of workers' skills in technical and professional sector.
-An agreement has been reached on developing exports of the two countries. In this regard Saudi Arabia desires to increase Yemen's agricultural exports mainly vegetables and fruits.
The Saudi Fund for Development promised to study 4 projects proposed by the Yemeni side. They are the projects of social fund, rural roads, public works, lines of power transfer between Mareb and Sana'a. The two sides have agreed on holding a meeting between specialists from the two countries to discuss a draft agreement on customs cooperation and drawing up the final version of the customs agreement to be signed as soon as possible.
Oil & minerals and agriculture:
Concerning oil and mineral field the two sides emphasized on consolidating cooperation in this area according to the international border treaty signed by the two countries. As for agriculture the two sides agreed on cooperation in agricultural research, and fighting animal and pant diseases.The y agreed on preventing smuggling of cattle and to commit to standardization and specifications for agricultural products in agricultural trade exchange. But the two sides did not sign a protocol for agricultural cooperation.
It can be indicated that the Yemeni-Saudi Council did not reach an agreement regarding return of Yemeni labour to the Saudi market despite its being put on discussion by the Yemeni side and asked to be decided rapidly. That , however, does not affect the positive results the meetings have come out with in economic, trade and investment fields.