The Lebanese government held an expanded meeting in the Government Palace to accompany the decision of the Kingdom of Saudi Arabia to reopen its markets to Lebanese products, in a step that was considered a prominent economic and political milestone that reflects the return of Arab confidence in Lebanon and opens the door to a new phase of trade and investment cooperation.
The meeting was chaired by Prime Minister Nawaf Salam, with the participation of the Ministers of Economy and Trade, Amer Al-Bassat, Ministers of Industry, Joe Issa Al-Khoury, and Agriculture, Nizar Hani, along with representatives of the relevant ministries and economic, agricultural, and industrial bodies. The mechanisms for benefiting from the Saudi decision and ensuring its success and sustainability were discussed.
The Minister of Economy and Trade, Amer Al-Bassat, confirmed that the reopening of Saudi markets to Lebanese products goes beyond their direct commercial dimension, indicating that it constitutes an important step in the path of Lebanon’s return to its Arab depth, at the forefront of which is the Kingdom of Saudi Arabia.
Al-Bassat considered that the decision reflects the Kingdom’s confidence in the Lebanese government and the new era, and comes as a result of continuous efforts made during the past period to restore confidence and enhance cooperation between the two sides.
He stressed that the Lebanese state is determined to strengthen its Arab partnerships, pointing out that the Saudi market represents an essential station in the path of economic recovery, especially since the value of Lebanese exports to the Kingdom amounted to about 400 million dollars in 2015 before declining sharply following the imposition of the ban.
He pointed out that the first beneficiary of this step will be the Lebanese product in various sectors, stressing that its positive effects will also be reflected in the tourism, investment and service sectors, which contributes to moving the economic cycle and enhancing growth opportunities.
Al-Bassat called on Lebanese producers and exporters to adhere to the highest standards of quality, food safety and control, in order to preserve the reputation of the Lebanese product and the confidence of the Gulf markets in it, stressing that the Ministry of Economy, in coordination with the relevant authorities, will continue to support the private sector and expand the horizons of cooperation with the Kingdom of Saudi Arabia and the Gulf countries.
He concluded by stressing that reopening the Saudi market to Lebanese exports represents a message of confidence and hope for the Lebanese, and evidence of Lebanon’s gradual return to its natural position within its Arab surroundings.
