The Republic of Yemen (Yemen) was formed on May 22, 1990, unifying the Yemen Arab Republic (YAR) and the People's Democratic Republic of Yemen (PDRY). The economy of Yemen will be based largely on the market system. Unification has created greater potential for long-term development than if the two parts were to remain separate. The new country has modest oil and gas reserves, large fishery resources, unexploited tourism potential, a dynamic private...
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