S. Korea raises aid for Yemen to $ 100 mln

Saba
SANA’A, April 11 (Saba) – South Korea has raised its support for Yemen from $ 55 million promised at the Donor Conference held in 2006 in London to $ 100 million for 2007-2010. The director general of the International Cooperation Department at the Ministry of Planning and International Cooperation Omer Abdul Aziz said the raise comes to illustrate the developed relations between the two countries, particularly after the successful visit of President Ali Abdullah Saleh to South Korea in April, 2005. On the other hand, the volume of trade exchange between Yemen and South Korea increased in 2007 to YR 34.330.952 billion. The income of the Yemeni exports to South Korea in this year was YR 19.451.569 billion, while imports amounted to YR 14.879.383 billion. Yemen’s exports to S. Korea represent 1.58 percent of the total amount of Yemen’s exports to the East Asia countries. The mutual cooperation has witnessed continues growth over time as the two countries have signed a number of agreements, most important of which was a production sharing agreement between the S. Korean Oil Ministry and Yemen’s National Oil Company. The countries also signed an agreement for implementing tourist projects in the Yemeni province of Dhamar at a cost of $ 28 million. South Korea has recently announced it intends to extend cooperation ties with Yemen to include investment cooperation in several fields such as oil, tourism and information technology. FR/AF