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Last updated: 12:29:00 AM GMT(+03) Wednesday, 23, January, 2013
 
 

Turkish delegations meets with Yemen Oil Minister

 
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 Yemen Post Staff

Yemen Oil and Mineral Minister, Ahmed Abdullah Dares met in Sana'a on Wednesday with Turkey Ambassador Fazli Corman and several of prominent Turkish representative of the energy sector to discuss ways in which both nations could enhance their collaboration.

Ambassador Corman who has been a long advocate of stronger, economic, social and political ties with Yemen expressed Turkey's keenness to open up its market to the impoverished nation and support its recovery.

With vast untapped oil and gas resources, Yemen is looking for new partners to expand its energy sector as to ensure long term economic growth. Past mistakes -- mis-management, corruption, lack of oversight and planning -- have underscored the need for a clear policy and investment plans which will ensure the nation's a stable and promising future.

Strong of its own economic stability, growing market and oil expertise, Turkey certainly posed itself as a strong partner.

It is important to note Turkish Petroleum International Company - TPIC - a subsidiary of the Turkish Petroleum Corporation - TPAO - is to be transferred to the Petroleum Pipeline Corporation - BOTAŞ - following a capital rise. It has been predicted the move will spur Turkey’s petroleum operations abroad.

Economist Mike Trotter told the Yemen Post an opening up of Yemen's oil market to Turkey would be a logical and tactical move for Sana'a. "Yemen and Turkey have much to gain by standing together - Yemen needs a political ally in the region capable of financing and promoting its economic recovery while Turkey needs a stable Yemen, both for economic and strategic reasons - Moreover, the increasing role of Turkey as a regional super-power means that Yemen stands to gain from a string partnership."

 

 

 

 


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Source: Yemen Post Newspaper
 
 
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