India and Yemen have strong economic relations: Aggarwal

Hyderabad, Oct 4 (UNI) Indian Ambassador to Yemen R M Aggarwal today said New Delhi has strong economic and political relations with Sanaa and there exists a tremendous potential for trade and investments between the two countries.

Addressing the Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) here today, he said Yemen would be the best place for business promotion as it was looking for buyers for 17 trillion cubic feet of natural gas reserves.

He said nearly one lakh Indians were living in Yemen. The country offered incentives to promote business especially in Information Technology and in telecom sector, he added.

He said the President of Yemen would visit India soon.

New Delhi's export to Sanaa touched 243.54 million US dollars and its import from Yemen (excluding crude oil) crossed 31 million US dollars.

FAPCCI Senior Vice-President Atluri Subba Rao said the state government was creating a conducive atmosphere for attracting more investors to the state.

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