almotamar.net - A meeting of talks was held in Sana'a Wednesday co-chaired by Yemen's Prime Minister Abdulqader Bajammal and the visiting Malaysian Prime minister Datuk Seri Abdullah Ahmed Basawi where the two men reviewed and discussed relations of economic cooperation between the two countries.

The two parties agreed to cancel taxation duality to open the way to investors and facilitate bilateral arraignments held between establishments of the private sector. The two sides also agreed on developing cooperation in areas of basic, higher, technical and vocational education, tourism, administrative reform and human development.

The agreement stipulates that documents regulating this process to be prepared for the final signing and the beginning of carrying it out in the mid of this year according to the constitutional and legal rules pursued in both countries and that is through convening of the Yemeni-Malaysian Joint Committee.

PM Bajammal said the talks focused on the energy sector in addition to tourism and developing islands as we have 9 islands of which plans and studies have been completed for investment. He indicated to the possibility of benefiting from the Malaysians in development of the islands including preparation of an agreement organizing the process of investment in them.

Prime Minister Bajammal pointed out the importance of the Malaysian prime minister visit as it represents renewal of close relations between the two peoples and countries and the intention to establish future relations of common interests and benefits.

On his part PM Badawi announced that it was agreed to establish a joint economic and trade forum, stressing the importance of pushing forward the trade exchange between Yemen and Malaysia. He said the two countries' trade exchange is small, adding that Yemen is considered the fifth largest market for Malaysian exports in the region of west Asia. He said investments between the two countries are at their lowest levels and need development.

The Malaysian PM indicated the importance of Yemen's joining of the agreement of trade preference within the framework of Islamic Conference Organisation which Malaysia now chairs and also to sign the preferential protocol for tariff due to its importance in consolidating trade exchange among the member states of the ICO. The Malaysian official expressed his country's willingness to offer its experience to the Yemeni private sector on trade and investment, inviting Yemeni businessmen to attend the international investment exhibition Malaysia is holding every year from 9 to 13 of May.