Oman - Yemen to increase trade as Muscat receives delegation

Deputy President of Oman Chamber of Commerce and Industry Jamil bin Ali Sultan received in Muscat today a trade delegation from Yemen (Wadi Hadramout and Desert chamber of commerce and industry). The thirty-man strong delegation is headed by Ahmed al Saqaf, Chairman of the Chamber.

ONA news agency reported that the OCCI Deputy President praised the strong relations and economic ties between Oman and Yemen who are committed to increase trade exchange with the Yemeni side and boost joint investment.

Talks covered establishing an Omani- Yemeni Commercial Bank, setting up shipping company, noting that OCCI organized an Omani exhibition in Sanaa in 1999 to promote Omani industrial products, and that the Sultanate sees investment potentials in fisheries, light and medium industries and tourism sectors.

The head of the Yemeni trade delegation al Saqaf said that he and his accompanied delegation had managed to meet with their Omani counterparts and that there was existing contact between the members of the delegation and several Omani companies which would result in trade agreements which would contribute to increasing trade exchange between the two states, the news agency said.

The two sides have agreed to sign a memorandum of understanding aimed to provide necessary information on joint investment projects.