The Saudi-Yemeni Coordination Council would gather in Al-Madina next Monday to discuss the two countries’ mutual economic relations, reported Al-Hayat newspaper. The Council, chaired by the Saudi vice prime minister, Emir Sultan Bin Abdul-Aziz, will mainly focus these discussions on nine bilateral agreements.
In attendance will be the Yemeni prime minister, Abdullah Al-Iriany, the Saudi and Yemeni ministers of foreign affairs, treasury, planning, health, information, commerce and transportation.
The Council is expected to evaluate Yemen’s requests for Saudi financing of local development projects valued at more than one billion dollars. The major Yemeni project proposals consist of modernizing and developing Sanaa Airport, building a new road between Sanaa and Aden, repairing the existing road between Sanaa and Aden, building an electricity generation station in Mareb with a capacity of 400 megawatts, constructing a new seaport, vocational center and a hospital.
Official statistics estimate the volume of exchanges between Yemen and Saudi Arabia at 37 billion Saudi riyals per annum—90 percent of which are Saudi exports to Yemen. Saudi Arabia has been Yemen’s largest trade partner for several years. — (Albawaba-MEBG)