The Yemeni government is looking to establish a Yemeni-Chinese bank to facilitate the transfer of funds to exporters and importers.

Yemeni Minister of Industry and Trade Mohammed Al-Ashwal announced today, Tuesday, his country's aspiration to establish a Yemeni-Chinese bank to facilitate the transfer of funds to exporters and importers, calling for Beijing's cooperation in adopting vital projects.

This came during his meeting in the interim capital, Aden, with the Chargé d'Affairs of the Chinese Embassy in Yemen, Zhao Cheng, to discuss enhancing and developing aspects of joint cooperation, and bilateral economic and trade relations between the two countries, according to the Yemeni News Agency "Saba".

The two sides discussed issues of common interest, including facilitating the direct arrival of exports from Yemen to China, most notably fish, and enhancing Chinese support efforts in commercial and industrial investments between the two countries, especially in the fields of energy and developing the industrial base.

Al-Ashwal expressed his aspiration to study the establishment of a Yemeni-Chinese bank to facilitate the transfer of funds from exporters and importers, and remittances to and from China, as well as the cooperation of the Chinese side in adopting vital projects in the fields of clean energy and electricity, developing Yemeni ports and oil exploration, and rebuilding the destruction caused by the war to the infrastructure in Yemen, which is considered the cornerstone of the Belt and Road Initiative.

The Minister of Industry reviewed the depth of trade relations between the two friendly countries, which exceed more than three billion dollars annually, stressing the importance of continuing coordination and joint meetings on trade and industrial aspects between the two countries.

He also stressed the importance of forming a joint Yemeni-Chinese committee to revive the trade balance that has recently been disturbed due to the Red Sea events, and to activate the agreements signed between the two countries, the most important of which is the Belt and Road Initiative, praising the firm Chinese positions supporting the unity and stability of Yemen and achieving comprehensive peace in Yemen in accordance with the references agreed upon nationally and supported regionally and internationally.

For his part, the Chinese Chargé d'Affairs stressed his country's keenness to provide support and humanitarian assistance in various fields, pointing out that the embassy will also provide all facilities and assistance, including working to facilitate the issuance of visas for Yemeni traders, in addition to providing customs and tax exemptions for Yemeni exports to China.

The Chinese diplomat also handed over an invitation to the Minister of Industry Al-Ashwal to attend the reception marking the 75th anniversary of the founding of the People's Republic of China and the 68th anniversary of the establishment of Chinese-Yemeni diplomatic relations.