Saturday, 17-November-2018 08:38
 
no comments in "Economy"
Economy
Friday, 11-May-2007
Almotamar.net Bermana - KUALA LUMPUR, May 11 (Bernama) -- Commercial exchange between Malaysia and Yemen is set to grow from the current relatively limited volume as their joint economic trade committee is making headway to unlock business potentials available in both countries.

The committee will hold its first meeting in Sana'a, Yemen, in December this year.

Topping the inaugural meeting agenda is the need to push for partnerships in various economic fields and to resolve trade issues that may impede trade and investment such as those in relation to maritime and customs.

Yemen's Industry and Trade Minister Yahya Y. Al-Mutawakel said he believed the economic forum could facilitate in enhancing trade and investment relations between his country and Malaysia.

Although bilateral trade between the two countries had progressed over the years, there was however room for improvement, he said.

"Definitely, the objective of the committee is to enhance trade between Yemen and Malaysia. We need to address issues that impede trade between us," he told Bernama in an interview here in conjunction with his visit to Malaysia.

Yahya is leading a delegation of 22 businessmen to Kuala Lumpur for three days from May 8.

He held a meeting with his Malaysian counterpart, International Trade and Industry Minister Datuk Seri Rafidah Aziz, on Wednesday.

Total trade between Yemen and Malaysia amounted to US$312 million (US$1=RM3.40) last year with exports valued at US$260.2 million and imports at US$51.8 million.

Yahya said there were abundant opportunities that could be tapped in Yemen, especially in the country's booming oil and gas, and mineral industries.

"Yes, there are Malaysian companies that have signed for mineral (projects in Yemen) but this should not be the end as there are still opportunities for others to follow suit. Definitely, there are plenty of opportunities," he said.

"It has not really (fully) explored yet. The exploration (now) is less than 20 percent," he added.

Malaysian investments in Yemen to date totalled RM51 million, mainly in mining and quarrying activities.

Among the Malaysian companies operating in Yemen are Muhibbah Engineering in the construction of a liquefied natural gas (LNG) plant and Pensonic in the sales of Malaysian-made electrical products.

Yahya said there were export opportunities for Malaysia to Yemen, especially in electrical appliances and computers to support the country's "new and booming economy" environment.

"We see a considerable increase in users of computers, not only by the business community but also in education as well as in supporting e-government," he said.

Yahya said the upcoming joint economic trade committee meeting should entail "full members" and not confined to top trade and industry officials from both countries.

He said since there were pressing issues up for discussions such as maritime and customs tariffs, the meeting should also involve top officials from relevant agencies such as customs, transport, taxation and finance.

He also said that businessmen had raised concerns over rising shipping costs that could impede trade flow between Yemen and Malaysia due to the heavy reliance on sea transportation.

Major exports from Malaysia to Yemen last year were iron and steel products, palm oil, wood products and processed food while imports from Yemen were mostly crude petroleum, seafood and metal products.

-- BERNAMA
More from "Economy"

Other titles:
Tuesday, 17-October-2017
The United Arab Emirates acknowledged on Tuesday that two of its pilots were killed when their military aggression plane crashed over Jawf province, a military official said

The official added that the aggressive crashed plane was an apache that was
Tuesday, 17-October-2017
Three citizens were killed and four others wounded in two Saudi air strikes hit Majza district of Saada province, an official said on Tuesday.

The strikes hit a citizen's car in al-Jamalah area in the district, the official added.
Tuesday, 17-October-2017
Artillery of the army and popular shelled a gathering of Saudi-paid mercenaries in al-Moqadra area in Serwah district of Marib province, a military official said on Tuesday.

Meanwhile, dozens of Saudi-paid mercenaries were killed and others injured in Wadi al-Theek in the district, the official added.
Monday, 16-October-2017
The army and popular forces carried out on Monday unique military operations in Taiz province.

A military official said that a number of Saudi-paid mercenaries were killed at the hands of the army and popular forces in al-Jazami Hill in al-Kadaha area in al-Ma'afer district.
Monday, 16-October-2017
A Saudi aggression fighter jet targeted a citizen's car driving in Fara area of Kutaf district in Saada province overnight, killing the driver and injuring his friend, a security official said on Monday.
Monday, 16-October-2017
The army artillery and popular committees launched a fierce attack on Saudi-paid mercenaries' sites in Jawf province, a military official said on Monday.

The attack destroyed a military vehicle belonging to the mercenaries and killed all on board in Sabran area in khab and shaaf district.
Sunday, 15-October-2017
Scores of Saudi enemy soldiers were killed and injured on Sunday when the army and popular forces repelled a Saudi military attempt to sneak into Shurfah site in the border province of Najran, a military official said.

The operation was accomplished successfully against the Saudi
Sunday, 15-October-2017
The army and popular committees have killed a total of 18 Saudi-paid mercenaries in sniper operations over the past hours in the central province of Marib, a military official said on Sunday.

Ten mercenaries were killed in Nehm district and eight others were killed in Serwah district, said the official.
Saturday, 14-October-2017
Saudi aggression warplanes have launched more than 49 airstrikes over the past hours on several residential areas across Yemen, a security official said on Sunday.
The airstrikes targeted the areas of Malahiz and Husama in Dhahir district, and areas Thuban, Masahif and Sdad in Bakim district of northern Saada province.
Thursday, 12-October-2017
The army and popular forces carried out an operation attack on Saudi-paid mercenaries' sites in al-Hawal area in Nehm district.

A local official said that the operation attack resulted in killing and injuring mercenaries, adding they also incurred heavy losses at their ranks

who we are     |    Advertising     |    contact us
All rights reserved © Almotamar Net, Developed by