Yemen Monitor/Newsroom:
Abd Al-Majid Al-Sa’adi, head of the Yemeni side in the Saudi-Yemeni business council talks, clarified that the activation of trade talks between his country and the Kingdom is a bright picture of Saudi support for Yemeni markets and investors there.
The Saudi newspaper Al-Riyadh quoted Al-Sa’adi as saying that Yemeni businessmen rank thirteenth on the list of investing countries, with a capital of eighteen billion riyals by the end of 2023. He stressed that trade and investment are witnessing a new momentum to encourage exports and trade exchange between the Kingdom and Yemen and support food security, noting that bank transfers and financial credits still pose an obstacle to achieving a strong push for trade and investment.
Al-Sa’adi said: Unfortunately, the volume of Yemeni exports to Saudi markets is still weak and represents 5% compared to Saudi exports to the Republic of Yemen, indicating that the value of Yemeni exports to the Kingdom ranges between five and six billion dollars.
Al-Sa’adi confirmed that Saudi-made products have become of global quality and ideal specifications, so Yemeni markets are looking forward to exporting Saudi products to them, especially to Yemeni markets close to Saudi ports and industrial cities.
On the other hand, the Saudi-Yemeni Business Council discussed establishing a club for Yemeni investors targeting 4,800 Yemeni companies and institutions inside Yemen, aiming to achieve the mission of these companies and coordinate commercial and investment work, exchange opportunities and experiences, and achieve supportive partnerships.
Participants raised the idea of establishing a Saudi logistics zone to achieve local, regional, and international connectivity of trade and transportation networks between Djibouti, Yemen, and Sudan, to address geopolitical and economic crises, and to achieve integration in the system of neighboring countries and support the process of comprehensive development, and to achieve efficiency, flexibility, and sustainability of local and international sectors.
Investors noted the need for Yemeni markets for poultry products due to the high local demand in Yemeni governorates and villages, as well as the fact that a large proportion of what is available in the markets is imported from Brazil.
