Lebanese President Joseph Aoun invited businesspeople and investors from the United Arab Emirates to invest in his country’s stability and future. Aoun received the delegation in Beirut on Thursday together with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.
Describing the Emirati delegation’s visit as a “message of hope and confidence” for Lebanon, Aoun said it could create new opportunities for investment and cooperation between the two countries.
Aoun said relations between Lebanon and the United Arab Emirates were based on historic and fraternal ties, and expressed his satisfaction with Abu Dhabi’s support for his country.
Addressing the Emirati delegation, Aoun said, “Lebanon is your second country, and we invite you to invest in the country.” Noting that security and investment were interconnected, Aoun said existing challenges would not stand in the way of cooperation as long as there was genuine will and intent.
Aoun said Lebanon had significant advantages, including its human resources, private sector, geographic location and Lebanese communities spread across different parts of the world. He added that Lebanon currently needed the support of the Gulf countries, particularly the United Arab Emirates.
The Lebanese president also thanked UAE President Mohamed bin Zayed Al Nahyan. Aoun said Al Nahyan had never delayed responding to Lebanon’s requests, adding that this demonstrated the UAE president’s concern for Lebanon and its people.
Non-oil trade reaches $4.2 billion
Thani bin Ahmed Al Zeyoudi said the Emirati delegation had discussed investment opportunities in Lebanon during meetings with Lebanese businesspeople and investors.
Al Zeyoudi said trade relations between the UAE and Lebanon had grown significantly in recent years, adding that non-oil trade between the two countries reached approximately $4.2 billion last year.
Describing meetings with Lebanese companies and institutions in various sectors as “excellent,” Al Zeyoudi said logistical links between the two countries and global companies and hubs could be improved, particularly in the technology sector.
The UAE minister said a comprehensive economic partnership agreement covering bilateral economic relations and the sharing of expertise between public institutions should be prepared in the coming period.
Lebanese Minister of Economy and Trade Amer Bisat said the visit’s significance stemmed not only from its form but also from its substance and the issues discussed.
The Emirati economic delegation began its visit to Lebanon on Wednesday to strengthen partnerships between the private sectors of the two countries and explore investment opportunities. The delegation included dozens of senior businesspeople, investors and economic executives.
