Committee on China-Yemen Economy and Trade

Mr. Bo Xilai said that the friendly relations between China and Yemen for over half a century laid a favorable foundation for the bilateral trade and economic relations, and the bilateral trade in 2005 amounted to US$3 billion, the two countries initiated effective cooperation in various areas. China would maintain encouraging enterprises to launch economic cooperation in Yemen. He believed that to expand cooperation would enrich traditional friendship and the meaning of trade and economic relations between the two countries, and would even realize win-win. Bo Xilai said that China was a developing country but was willing to provide assistance to old friends like Yemen to the best of its ability.

Moallimi expressed appreciation for the development of Chinese economy and satisfaction to the governmental and civil cooperation between China and Yemen. He thanked Chinese government and People for assistance in the past 50 years. He said that Yemen would always open to Chinese enterprises and believed that China and Yemen would initiate cooperation in areas of infrastructure construction, minerals and oil, which would benefit the two countries.

Chinese Vice Minister of Commerce Wei Jianguo and Moallimi co-chaired the 7th Session of Joint Committee on China-Yemen Economy and Trade. Mr. Wei Jianguo said at the opening ceremony that since the previous Session, not only the bilateral trade developed rapidly but also scale of two-way investment and cooperation broadened and obtained positive achievements. 2006 was the 50th anniversary of the establishment of diplomatic relations between China and Yemen, and the successful holding of the Committee was the best way to commemorate the 50th ceremony. Besides, Mr. Wei Jianguo put forward suggestions on development of China-Yemen trade and economic relations in the coming 3 to 5 years. He said that the two countries should insist on the principle of equality and mutual benefit, complementing advantages of each other, innovating mode and improving level to further expand the scale of bilateral trade, and to enhance extensive cooperation in petroleum and minerals, infrastructure construction, hi-tech industry like telecommunication and fishery.

Moallimi said that Yemen attached much importance to the all-round development of relations with China and agreed with suggestions put forward by China. He said that President of Yeman would visit China in April 2006, which would greatly promote the development of bilateral trade and economic relations between China and Yemen. Meanwhile, Yemen was willing to initiate cooperation with China in various fields, government of Yemen would like to provide strong support and help to Chinese enterprises to invest in Yemen.

Chinese delegates attending the Committee were from Ministry of Commerce, Ministry of Foreign Affairs, General Administration of Quality Supervision, Inspection and Quarantine of China, Ministry of Education, Export-Import Bank of China, China Export & Credit Insurance Corporation and enterprises, on the other hand, Yemeni delegates were from 8 Ministries