The Republic of Yemen participated, on Tuesday, in the third ministerial meeting of the Trade Negotiation Committee within the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, held in Istanbul, Turkey, headed by Yemen’s Ambassador to Turkey, Muhammed Tariq.
In Yemen’s speech, Ambassador Tariq stressed the importance of establishing a preferential trade system between the countries of the Organization of Islamic Cooperation. He affirmed Yemen’s welcome to all decisions that would reduce or eliminate customs restrictions and other obstacles that hinder the promotion of inter-state trade between member states.
Ambassador Tariq drew attention to the economic importance of Yemen’s location on the Red Sea and the Bab al-Mandab Strait, which facilitates global trade between the East and the West. He called on regional and international countries to confront all threats that undermine the freedom and security of global trade across the Red Sea and all those behind them.
He explained that the security threats caused by the Houthi attacks in the Red Sea have led to an increase in the cost of maritime shipping, a decrease in the volume of imports, and a rise in the prices of goods and fluctuations in the exchange rate of the local currency against the dollar, which has exacerbated the suffering of the people and negatively affected the livelihood of Yemenis and pushed many groups towards the poverty line.
He stressed that facilitating trade exchange between the member countries of the organization will undoubtedly contribute to strengthening stability in countries witnessing internal or external conflicts, as is the case in some member states, especially in the post-conflict period.
Source: https://www.sabanew.net/story/ar/112630
