Yemen Free Trade Agreements

Yemen Free Trade Agreements: What You Need to Know

For years, Yemen has been one of the poorest and least developed countries in the world. However, the Yemeni government has recently undertaken efforts to improve the country`s economic situation by engaging in free trade agreements with other countries. In this article, we will explore Yemen`s free trade agreements and what they mean for the country.

What are Free Trade Agreements?

Free trade agreements (FTAs) are agreements between two or more countries to reduce or eliminate tariffs, quotas, and other trade barriers between them. FTAs are intended to promote the free flow of goods and services between countries, encourage investment and economic growth, and increase competition among businesses.

Yemen`s Free Trade Agreements

Yemen has several free trade agreements in place with other countries, including:

1. Gulf Cooperation Council (GCC) Free Trade Agreement: The GCC Free Trade Agreement was signed between Yemen and the six Gulf countries (Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar) in 2005. This agreement aims to increase economic cooperation and trade between Yemen and the GCC countries by reducing tariffs on goods and services.

2. European Free Trade Association (EFTA) Free Trade Agreement: The EFTA Free Trade Agreement was signed between Yemen and four European countries (Switzerland, Norway, Iceland, and Liechtenstein) in 2014. The agreement aims to reduce trade barriers and promote economic cooperation between Yemen and EFTA member states.

3. Turkey Free Trade Agreement: The Turkey Free Trade Agreement was signed between Yemen and Turkey in 2009. This agreement aims to increase bilateral trade, investment, and economic cooperation between the two countries by eliminating tariffs on goods.

Benefits of Yemen`s Free Trade Agreements

Yemen`s free trade agreements offer a number of benefits to the country, including:

1. Increased trade: By reducing or eliminating trade barriers, Yemen`s free trade agreements make it easier for Yemen to trade with other countries. This can lead to increased exports and imports, which can boost the country`s economy.

2. Attracting investment: Free trade agreements can make Yemen a more attractive destination for foreign investment. This can bring new business opportunities, create jobs, and boost economic growth.

3. Diversifying the economy: By promoting trade with a variety of countries, Yemen`s free trade agreements can help diversify the country`s economy. This can help reduce reliance on any one industry or country, making the economy more stable.


Yemen`s free trade agreements offer important opportunities for economic growth and development. By promoting trade and investment, these agreements can help stimulate the country`s economy and create new business opportunities. As Yemen continues to work towards economic development, its free trade agreements will play an important role in shaping the country`s future.