09 December 2022 07:25 AM

Economic relation

Monday، 09 November 2020 - 07:01 AM

 Egyptian –Yemeni Economic relation have witnessed a great development over past year .As their relations are governed by an integrated legal framework to regulate cooperation in all fields, especially economic and commercial ones.

 

 

During the period 13-17 May 2006, The Sixth Round of the Higher Egyptian-Yemeni Committee was held in Sanaa, under chairmanship of the Prime Ministers of both countries as co-chairs. The agreements, protocols, and memorandums of understanding signed at the end of the round.

 

 The joint Egyptian-Yemeni Higher Committee held its sixth sessions headed by both the prime ministers of the two countries at Sana’a city. In which a lot of agreements; protocols; memorandum of understanding  have been signed at the end of the session. 

 

On 9/6/2009, a new headquarters for the Medical Counselor Office in the Egyptian Embassy has been inaugurated .It is fully managed at the expense of the Egyptian government and with highly experienced cadres, and aims to provide treatment services and medical consultations to all Yemeni people who wish to receive treatment in Egypt, in addition to exchanging experiences; training convoy and facilitate communication among universities in the two countries

 

 

The Yemeni embassy has  conducted a lot of activities in augmenting Egyptian investment, as participating with companies; government agencies in envents,exhibition and economic activities that have been hosted by the two countries.

 It resulted in the participation of thirty Egyptian company in October 2009 at 
Sanaa International Book Fair and several deals have been held in textile and food stuff fields.

 

The Yemeni embassy organized an exhibition for the Egyptian products that had  been set up by an Egyptian private sector company in March 2009, in which 30 Egyptian companies participated.

 

 

On August 9, 2010, the Joint Egyptian Technical Committee for Oil, Gas and Mining Technical Commission finalized a project to establish a joint Egyptian petroleum company. It is considered the first of its kind between the two countries in petroleum field.

 

 

The Yemeni-Egyptian fisheries joint committee approved in its schedule on January 17th, 18th 2010 the establishment of a Yemeni-Egyptian joint company in fishery industry

 It also approved a specific mechanism to regulate fishing operations in accordance with the new Yemeni law, to consider a project to establish joint fishing companies, and to consider the issue of landing fish ships in Yemeni ports in accordance with the Yemeni law and that is to be done by establishing facilities in Yemeni ports that allow the landing process and preparing fish for export.

 

 

 On 12th July 2015, the eighth High Egyptian -Yemeni joint committee was held at the headquarters of the Council of Ministers. The Egyptian side headed by Prime Minister Ibrahim Mahalab. Also, the Egyptian side was  represented at the discussion by ministers: planning, health, transitional justice, international cooperation, and the interior. While the Yemeni side was chaired by EngKhalid Baek, Vice-President of the Republic and President of the Yemeni Prime Minister. The Yemeni side represented by ministers: planning, international cooperation, interior, and human rights.

 

Mahalab pointed out that the volume of trade between the two countries amounted to $906 million, while the Egyptian exports amounted to $888, and the Egyptian imports amounted to $18 million. Specifying that Yemeni contributions to 284 investment projects in Egypt up to 2014 amounted to $250 million  in sectors: Agriculture, industry, services, construction, communications and information technology.

 

 

On 13th August 2018, the Egyptian President Abd el Fattah el- Sisi received Yemeni President Mansour Hadi on his visit to Egypt.

 

The Co-Chairs both witnessed the signing ceremony of a memorandum of understanding between the Egyptian Central Bank and its Yemeni counterpart on cooperation in the banking sector, especially in the fields of skills exchange and training of workers in this sector.

 

The volume of trade exchange between the two countries during the period  January -May 2018 amounted to $318.8 million, the trade balance in this economic relationship came in favor of Egypt as the Egyptian exports to Yemen exceeded its imports from it with a value that exceeds $ 229.7 million. Egypt’s exported to Yemeni dozens of goods and products of which imports amounted to about $89 million.
 

Egypt is considered one of the most important markets to Yemeni export destination. As its ranks become the second after Saudi Arabia.  According to the statistical data ,the most important Yemeni imports from Egypt’s goods and products represented in clothes; electric appliances; food stuffs; perfumes; medicine and others. While Egypt’s imports from Yemen are agricultural goods as: wheat; maize, as well as fertilizers; coffee and tea.

 

 

The Non- Petroleum Egyptian exports increased by 2.3%during the first ten months of 2019 to record $21.322 billion compared to$ 20.835 billion during the same period of 2018.

 

President of the General Export and Import Control Board, Ismail Jaber said that there are four exports sectors that had achieved  tangible growth included exports of  food industry ,As  it registered $2.877 billion, compared to  $2.597 billion over the same period in  2018 with an increase of 11%.

Also, agricultural exports recorded $1.994 billion compared to $1.926 billion during the same period from 2018 with an increase of 9%.

 

Garment sectors is about $1.408billion compared to $1.309 billion during the same period of 2018 with an increase of 8%.

 

 Engineering industry about $2.052 compared to $2 billion with an increase of 3% over the same period last year.

 

 

 In 2018, Egyptian total volume exports to Yemen amounted to $278.5 billion

In 2019, Egyptian total volume exports to Yemen amounted to $ 383.4 billion

 

 During the period January-May 2020 Egyptian total volume exports to Yemen amounted to $113.4 billion.

During the first three months of 2020, Ceramic exports to the Republic of Yemen declined to reach $4.7 million compared to $5.2 million during the same period in 2019 with a 10% decline.

 

The number of Yemeni people that live in Egypt about  1 million person.

 

 

Many Yemeni people   Prefer to invest in Egypt's real estate market as it being one of Egypt's most prominent investment sectors in Egypt. Information indicates that Yemenis lives in Egypt own 250,000 apartments and real estate units, including 40,000 apartments with amounts ranging from $ 50,000 to $ 100,000, at an amount Up to $ 3 billion.

 

Yemeni total investment in Egypt amounted to $12 billion 


Yemeni people who live in Egypt also were in favor of investing in luxurious restaurants, companies and productive factories, especially in food stuffs.

 

The Yemeni investment in Egypt witnessed significant growth over the the period 2015-2019, this included various sectors as: food and beverage industries; the plastic industry and the real estate sector, and have recently extended investment in petroleum and drilling sectors. Some Yemeni companies have become major companies in Egypt and in the Middle East as well, especially companies manufacturing glassware, manufacturing ghee, soap, aluminum, and a large manufacturer of cardboard manufacturers and apparel factories.

 

Yemeni family has arrived to Egypt from half 2018-half 2019 .Their investments reached $ 250 million at various sector as: real estate and education.

As for investment in Yemen all the reports that have issued from concerned Yemeni said that Egypt has a wide range of chances  to invest at Yemen especially in medicine industry; fish; shoes industry ,those are sectors that are in  more need to Egyptian investments.

Also, those reports have assured that the future of Egyptian –Yemeni investments in Egypt will become better during the coming period especially under the current efforts that have been exerted by both countries.

Observing  geographical; strategic location of the two countries we one finds that both countries’goverened the north and south ports of the Red Sea. As such they both own the key to international commercial road that leads to 65% from international energy resource.

 

Developing and extending Egyptian –Yemeni relation especially on the economical level will be for the interest of both countries this according to the reports that have been issued from concerned Yemeni economic ministries.

 

During the coming period, Yemen is keen to attract more Egyptian investments and to orient their investments towards various sectors as: pharmaceuticals, fish, textile industry, and others, such as tourism and hotels. This can be achieved by activating the role of the Joint Higher Committee for Economic and Technical Cooperation between the two countries to make use of the different potential of every country. 

 

On 6 / 2 / 2020, a private plane carrying 32 Egyptian fishermen who had been detained in Yemen since December 2019 arrived at Cairo airport.

 

The 32 fishermen were from Ezbet El-Borg of Damietta governorate.  They have taken two fishing boats with the name “One Two" and "El Mostafa El hadi” who had approached the Red Sea. They were detained for breaching Yemeni waters .They were arrested for violating the territorial waters and hunting without permission as they have no license.

 

Egyptian efforts to release them and return them to Egypt have been welcomed by Ambassador Nabila Makram, Minister of Immigration.

All returning fishermen confirmed that they had received good and good treatment throughout their detention, and no one had been harmed.

On 20/7/2020 Minister of State for Migration and Expatriates Affairs Nabila Makram received Yemeni minister of expatriates, Alawi Bafaqih, to discuss cooperation between the two countries and exchange of expertise in the migration affairs file.

The Yemeni minister was visiting Egypt as part of a delegation accompanying Yemeni Prime Minister Maaen Abdel Malik to discuss with Prime minister Mostafa Madbouli bilateral cooperation.

 

A statement issued by the Ministry of Migration and Expatriates Affairs on 20/7/2020 said Makram praised relations between the two countries, saying the bilateral migration file has witnessed a significant progress as the two ministers discussed efforts of confronting illegal migration.

 

For his part, the Yemeni minister praised historical relations binding the two countries saying such bilateral meetings with Egyptian officials affirm the need of fostering cooperation in the migration file between the two countries as Egypt hosts about 1 million Yemenis.

 

Bafakih also has drawn attention to the Yemeni side keenness to benefit from Egypt’s experience in dealing with the second and third generation of Egyptians abroad, and to work on linking them to their motherland, which represents a fortification for them from any extremist ideas that may dominate them under the current circumstances, as well as Egypt dealings with its scholars and experts abroad through the series of conferences that ha been known as “Egypt Can”.

 

Huminariation aid

 

On 5/8/2015, Egypt dispatched a plane full of  medical equipment and food stuffs as a gift for the Yemeni people. Egypt also sent a large number of doctors there to offer health care to Yemeni people. Egypt  provided aid to Sana. This happened according to Egypt’s capabilities and according to the agreements and minutes that have been signed between the two countries. Among these aids:

 

-Providing Yemeni Education Ministry with a number of Egyptian teachers in various educational stages.

-Providing a number of experts working in government agencies with financing part of the salaries of some of them.

-Providing the Ministry of Education with quantities of textbooks and laboratories.

- Building (3) schools in Sana; Taiz and Ibb

-Building Egyptian Nasser Hospital in Ibb

- Dispatching a number of Egyptian medical missions to work in Yemeni hospitals

- A joint Egyptian-Yemeni high committee holds its session headed by the prime ministers of the two countries Egypt and Sanaa alternate lively. As such, a number of agreements; protocols and memorandums of understanding have been signed.

 

 

-Anew headquarters of the Office of the Medical Adviser has been inaugurated at the Egyptian Embassy in Sana'a at the expense of the Egyptian Government, with high-level cadres, aimed at providing best treatment services, medical counselling to all siblings in Yemen who wish to be treated at Egypt, as well as exchanging experiences, training convoys and facilitating communication between universities in both countries.

On 5/4/2018, Egypt has sent the first shipment of Egyptian humanitarian aid that has been in favor of the brotherly Yemeni people. It has been sent on two consignments of 10 tons of medicines, vaccines and medical supplies.

 It has been sent in solidarity with the brotherly Yemeni people, and in implementation of the directives of the Egypt’s President Abdel Fattah El-Sisi.

 

 

 

On 26/7/2020, as of the directives of President Abdel Fattah El-Sisi, Lieutenant General Mohamed Zaki, Commander-in-Chief of the Armed Forces and Minister of Defense and Military Production,  ordered the specialized departments to prepare and supply an aid of shipment of medical supplies and disinfectants, to stand by the brotherly Yemeni people in their trouble and confront the spread of a virus Corona and other epidemics spreading in Yemen, where the aid has  been transported via a military transport plane to be delivered to the legitimate Yemeni government through the King Salman Relief and Humanitarian Aid Center in Raya.


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