MUKALLA, Yemen, 3 June 2006 -- Saudi Arabia and Yemen yesterday signed a landmark border agreement, opening a new era in their relations. The two countries also signed eight other accords to strengthen economic and investment cooperation.
Interior Minister Prince Naif and his Yemeni counterpart Rashad Al-Olaimi signed the accord related to the demarcation of the 1,845-km Saudi-Yemeni international border.
Crown Prince Sultan and Yemeni Prime Minister Abdul Qader Bajammal witnessed the historic event.
Prince Sultan emphasized the significance of the border accord and said it reflected the political will of the two countries to strengthen their ties. He also commended the efforts of both Prince Naif and Olaimi in reaching this agreement and hoped that it would lead to greater cooperation between the two countries. There were also eight agreements for financial aid worth about SR610 million ($162.6 million) for roads and energy projects in Yemen.
Prince Sultan later laid the foundation stone for a college of technology at Hadramout University in Mukalla. The college is named after him.
The Saudi crown prince arrived here on Thursday at the head of a high-level delegation to chair the Saudi-Yemeni Coordination Council, along with Bajammal.
Also yesterday, Foreign Minister Prince Saud Al-Faisal signed an agreement with his Yemeni counterpart Abubaker Al-Kurbi for cooperation in wildlife conservation.
The council meeting also witnessed the signing of three agreements for road projects worth SR235 million, including a highway project linking the country's various regions. There was another accord on financing electricity projects.
Finance Minister and Chairman of Saudi Fund for Development Ibrahim Al-Assaf and Yemeni Planning Minister Abdul Karim Al-Arhabi signed the four pacts. There were also agreements for cooperation in customs, social affairs and fisheries.
Bajammal said his country was pinning high hopes on Saudi Arabia to provide much-needed economic boost. He stressed the Saudi Arabian role for economic integration between Yemen and the Gulf Cooperation Council (GCC).
Yemen wants to become a full member of the GCC, which agreed in December 2001 to Yemen's incorporation into its educational, social, health and sports councils.
"The Kingdom is the locomotive for Yemen (to enter) the GCC," Bajammal told reporters. The GCC, created in 1981, groups Saudi Arabia, Bahrain, Oman, the United Arab Emirates, Kuwait and Qatar. The GCC has drafted an action plan for investments in Yemen over the next 10 years, which officials in the capital Sanaa say will be presented to a donor conference in November in London.
Meanwhile, the Yemen Arab Company, a joint venture with Saudi Bugshan Group, signed a deal with a Chinese firm to establish a cement factory in Mukalla with an annual capacity of 1.2 million tons of clinker. The project will cost $260 million.
Commerce and Industry Minister Hashim Yamani and Yemeni Industry Minister Khaled Sheikh Rajeh, Yemeni Oil Minister Khaled Mahfouz Bahah and other top officials attended the signing ceremony for the project.
Speaking to reporters later, Yamani said the cement factory would boost Yemen's economy. He also disclosed plans to establish new joint investment projects by the private sector in both countries.
Abdullah Ahmed, chairman of Yemen Arab Company, said the existing cement factories in Yemen meet only half of the country's requirements. "Cement is a strategic product for a fast developing country like Yemen," he added.
By Samir Al-Saadi & Khaled Al-Mahdi
© Arab News 2006
