Business

Free Trade Zone Between Yemen and Saudi Arabia?

National Yemen

Free Trade Zone

By NY Staff

Chairman of Al-Hakeer Group for Development and Tourism  Abdulmohsen Al-Hakeer and prominent Saudi businessman suggested establishing a free trade zone between Yemen and Saudi Arabia in Jazan, a border city between Yemen and Saudi Arabia. According to Al Hakeer, such a move would promote Yemeni trade.

Al-Hakeer suggestion came during his proposal to the Investment Symposium entitled “Private Sector and Investment in Jazan”. In the proposal, Al-Hakeer stated that Yemen has the needed manpower while Saudi Arabia has the capital and expertise. He envisions that this zone will enhance economic development in Yemen — especially in the border cities of Jazan and Najran and nearby Yemeni cities.

Al-Hakeer noted that economy of Saudi Arabia is one of the most influential economies in the Middle East and has played a major contributing role to the growth of many developing countries. . He added that Saudi Arabia is considered to have the largest free economic market in the Middle East and the largest oil reserves in the world.