Trade between Yemen and Arab countries on the rise
Yemen: Monday, February 18 - 2008 at 11:15
The volume of trade between Yemen and other Arab countries increased to YR687.802bn in 2007 compared to YR82.845bn in 1997, an increase of YR604.957bn within the Greater Arab Free Trade Zone, according to an official report issued by the Ministry of Trade and Industry, reported The Yemen Observer. The annual average growth of trade exchange between the two sides increased from 22.1 per cent during the period from 1997-2004 to 26.8 per cent for the period from 2005-2007. This increase is due to Yemen's gradual reduction of customs fees and taxes, which reached 64 per cent during the first quarter of 2008. The reduction has similar effects on Yemeni exports to Arab countries which are members of the Greater Arab Free Trade Zone.
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Amena Bakr, Senior ReporterMonday, February 18 - 2008 at 11:15 UAE local time (GMT+4)
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