Chinese Vice President Xi Jinping (R) meets with Yemeni Vice President Abdal-Rab Mansur Al-Hadii (L) in Sanaa, capital of Yemen, June 24, 2008. Xi started a two-day visit to Yemen on Tuesday. (Xinhua/Pang Xinglei)

Chinese Vice President Xi Jinping said in Sanaa on Wednesday that China and Yemen share a big potential and many favorable conditions for expanding the scale of investment and cooperation.

Xi made the remarks in a speech at the opening ceremony of the China-Yemen Bilateral Investment Seminar, which attracted some 300 Chinese and Yemeni officials and entrepreneurs, including Yemeni Prime Minister Ali Muhammad al-Mujawar.

Xi said it is the natural requisite of economic development for the two countries to deepen mutually beneficial cooperation and create common prosperity.

Noting that Yemen has geographical advantages and rich reserves of natural resources, he expressed the hope that companies of the two countries could proceed from traditional friendship to mutual understanding and cooperation.

Xi said the companies of the two countries should stick to mutually beneficial and win-win practices so as to promote common development.

The Chinese leader encouraged entrepreneurs of the two countries to boost exchanges by actively improving the environment, expanding investment channels and optimizing investment structure.

He expressed the belief that under the support of the two governments and the joint efforts of Chinese and Yemeni entrepreneurs, the friendly cooperation between China and Yemen will witness even greater growth.

The seminar was jointly sponsored by the China Council for the Promotion of International Trade and the General Investment Authority of Yemen.

Yemeni Prime Minister al-Mujawar said at the seminar that China is an important, cooperative partner of Yemen. The two countries' relations enjoy a good momentum and there is a broad prospect of trade and economic cooperation.

He said Yemen welcomes investment from the Chinese companies in the country, especially in areas like energy, mining, fishing and infrastructure. The Yemeni government will create a favorable investment environment for these activities, he said.

Xi arrived in Sanaa on Tuesday for an official visit to Yemen. He will conclude the visit and fly back home Wednesday.

(Xinhua News Agency June 26, 2008)