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Economy
Saturday, 18-November-2006
SANA'A- - Yemen and Eritrea have signed an agreement to establish a Joint Fisheries Company. The company would carry out fishing activities, as well as the processing and canning of different fish products. This could increase the exports of Yemeni fish to international markets.
Eritrea and Yemen share waters, so the new company could help them fish them efficiently.

The agreement outlines the structure of the company, how money will be distributed between the two countries, and what positions need to be created. The two sides plan to hold a meeting in Sana’a after two months to create a detailed outline of the agreement. The two sides will conduct an exploratory study to ensure that the company serves the interests of both Yemen and Eritrea.

The agreement was signed on the Eritrean side by Dr. Matewos Woldu, Economic Advisor in the Ministry of National Development, and on the Yemeni side by the Deputy Minister of Fisheries, Mr. Abdul-Hafez Naji. The agreement resulted from discussions that the Joint Eritrean-Yemeni Technical Committee has been working since November 8 in Asmara on the draft document presented by the Eritrean technical committee.
Source: Yemen Observer
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