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News
Tuesday, 07-January-2014
almotamar.net - Yemen and Pakistan Joint Ministerial Commission in its 7th session here on Tuesday reviewed steps to expand bilateral cooperation in sectors of economy, trade, investment, oil and gas.

The session co-chaired by Industry and Trade Minister Saad Addin Bin Taleb and Pakistani Industries and Production Minister Ghulam Murtaza Khan Jatoi, examined the implementation status of the decisions taken in the 6th session.

After the plenary session, the commission delegates discussed in detail prospects of enhancing cooperation in areas of trade, investment, industries, oil and gas, vocational and technical training, health, agriculture, fisheries, infrastructure development and postal services.

Both sides reviewed steps for increasing commercial relations following Yemen's accession to World Trade Organization (WTO) as its 160th member.

On the pending issue of formation of Joint Business Council (JBC), the Yemeni side agreed to nominate ten businessmen. Pakistan has already given names of its nominees belonging to industry and trade.

It was agreed that the two countries would form a committee to discuss possibility of entering into Preferential Trade Agreement or Free Trade Agreement to expand the volume of trade currently hovering at around US$ 150 million.

Honory Consul General of Yemen in Pakistan Dr Mirza Ikhtiar Baig raised the issue of cutting time for issuance of visa to Yemeni businessmen, citing that Pakistani businessmen are getting visa in five days for visiting Yemen.

Pakistani side expressed interest in making further investments by its companies in the oil and Liquefied National Gas (LNG) sector.

Representatives of Frontier Works Organization (FWO), National Engineering Services (NESPAK) and DESCON briefed the Yemeni delegation about their expertise in infrastructure projects. These organizations are already working on infrastructure projects in Yemen and other Middle Eastern countries.

Yemeni side assured the companies that they would be facilitated in their projects in Yemen. The two sides also agreed to set up joint venture projects, especially in the Aden Free Economic Zone of Yemen and economic zones of Pakistan.

Minister Ghulam Murtaza Jatoi stated that the new government was very keen to strengthen relationship with Yemen.

The Minister briefed the delegates on the macro-economic profile of Pakistan and said that despite challenges such as the severe energy crisis and phenomenal surge in commodity prices over the last few years, the country's economy has witnessed a higher growth trajectory.

For his part, Bin Taleb expressed hope that economic relations between the two countries would grow through trade and joint ventures between the private sectors of the two countries.

Both sides agreed to expedite the conclusion of the Executive Program for Bilateral Cooperation in the fields of oil, gas and minerals.

On the request of Yemeni government, Pakistani officials agreed to look into the issue of increasing the number of scholarships for Yemeni technical diploma holders and graduates.
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