ISLAMABAD, March 3: Pakistan and Yemen have signed three agreements for increasing economic and commercial relations between the two countries. Commerce Minister Humayun Akhtar Khan and Yemeni Minister for Industry and Trade Dr Khalid Rajeh Sheikh inked the agreements, said an announcement of the commerce ministry issued here on Wednesday.
The agreements include trade deal, cooperation in the field of health, and avoidance of double taxation. The agreements were signed during the Pakistan-Yemen Joint Ministerial Commission meeting held in Sana'a on Tuesday (March 2). The JMC meeting that continued for two days, deliberated upon all areas of bilateral cooperation with focus on economic and commercial relations.
During the session the tow sides reiterated their commitment to enhance bilateral economic, trade, commercial, industrial, cultural, scientific and technological, agricultural and cooperation in the field of health.
Both the countries underlined the importance of exchange of visits of experts and business and trade delegations. They also agreed to establish linkages between educational institutions of the two countries. They considered declaring port cities of Aden and Karachi as twin-city as a mark of close and brotherly relations between Yemen and Pakistan.
Earlier, the commerce minister called on Yemeni Vice-President Abdu Rabbu Mansour Hadi, Prime Minister Abdulqadar Ba-Jamal and deputy prime minister and minister for planning and international cooperation where the minister for industry and trade was also present. It was agreed in the meetings to enhance trade relations between the two countries, as well as to expand trade in the region.
Pakistan and Yemen will start negotiations for signing a Preferential Tariff Agreement leading to a free trade agreement. In this connection, Yemen will send a technical delegation to Pakistan within next three months, and as soon as modalities are finalized the Yemeni minister for industry and trade will visit Pakistan to sign the agreement. The Pakistani side also expressed willingness to send a technical delegation to Yemen in this regard, if so required.
The two sides agreed to hold single-country exhibitions in Pakistan and Yemen. A protocol on economic cooperation between the Federation of Yemen Chambers of Commerce and Industry and the FPCCI was also signed.
