Yemeni-Saudi relations moving ahead [Archives:2002/15/Business & Economy]

Its anticipated that more trade and closer relations between Saudi Arabia and Yemen will continue as more talks between officials from the two countries are about to get underway.
The Joint preparatory Yemeni-Saudi Committee will hold its next meetings on April 30. Issues include bilateral cooperation and boosting trade and investment, agreements that are expected to then be approved in June, during further meetings the Saudi capital Riyadh.
Previous work on the committee has resulted the Jeddah border treaty of in June, 2000.
The meetings of the Yemeni Saudi Coordination Council also came after Yemen got a loan totaling USD 300 million to finance infrastructure projects.
Yemen is also getting gradual access to some of the Gulf Cooperation Council (GCC) institutions.
Thats part of the strengthening relations Yemen has in the Gulf, particularly with Saudi.
Yemen and Saudi have recently signed draft agreement to develop more trade between the two countries.
A memorandum of understanding on coordinating the air traffic between Sana’a and Jeddah regions with the view of reducing air fares has also been signed.
And custom officers have reached an agreement to allow Yemeni agricultural products to enter Saudi markets.
Yemen exports to Saudi Arabia have rose by 200 percent following the signing of the border treaty between the two countries.
Businessmen of the two countries say they look forward to decisions to help the private sector with joint ventures in the Aden Free Zone, tourism sector and small enterprise.
The Yemeni-Saudi Coordination Council is expected to outline new concepts for enhancing partnership between the two countries in the upcoming meetings to be held in Riyadh. Figures show that Saudi investments in Yemen are estimated at USD 800 million. Yemens private sector is in part in these investments.
Yemen is also hopeful that its improved relations with Saudi will help it receive financial aid to fight low-income, unemployment and poverty.

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