UAE, Lebanon hold talks to boost trade relations

A Lebanese trade delegation was in Abu Dhabi last week to build up links with the Emirati capital’s Chamber of Commerce.

The two countries have enjoyed good trade relations, but leading figures in the Abu Dhabi Chamber hope to increase economic cooperation, including joint investment and deeper partnerships between the nations’ private firms.

“The UAE and Lebanon are bonded with distinguished ties on all levels, but this level of distinguished relations is not reflected properly into the trade and economic relations between the two sides,” Abu Dhabi Chamber of Commerce First Vice Chairman Ibrahim Al-Mahmoud said. “The volume of trade exchange between the two sides is still humble and did not meet our ambitions.”

Al-Mahmoud said the two sides must find ways around the barriers that are preventing greater cooperation between the United Arab Emirates and Lebanon. While the bureaucracies of the two countries will necessarily play a role, Al-Mahmoud said it is the private sector that must lead the charge in creating better partnerships.

The Lebanese delegation was headed by Mohammed Shuqair, chairman of the Lebanese Federation of Chambers of Trade, Industry and Agriculture, who expressed a willingness to work with the surging Emirati private sector.

Al-Mahmoud assured the Lebanese delegates that the Abu Dhabi Chamber will give them whatever support is necessary to make increased cooperation possible moving forward.