The Federation of UAE Chambers of Commerce and Industry has signed an agreement with Lebanon to establish a Joint UAE-Lebanon Business Council to deepen trade and investment ties between the two countries.
The council will help identify high-priority sectors, develop joint economic initiatives, and facilitate direct engagement between investors and entrepreneurs in both markets, ultimately supporting the expansion of bilateral trade and investment flows.
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The agreement was signed on the sidelines of the UAE-Lebanon Business Forum in Beirut on Sunday, by Abdallah Sultan Al Owais, vice chairman of the Federation of UAE Chambers and Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), and Mohamed Choucair, chairman of the Federation of the Chambers of Commerce, Industry and Agriculture in Lebanon (FCCIAL).
Al Owais took part in the forum as part of the UAE’s official delegation, which also included Waleed AbdelRahman BuKhatir, second vice chairman of SCCI; Mohammad Ahmed Amin Al Awadi, director-general of SCCI; and Abdul Aziz Al Shamsi, assistant director-general for Communication and Business Sector at SCCI.
The new council will serve as an institutional platform for exchanging market intelligence and expertise, promoting trade and investment opportunities, and facilitating strategic partnerships and joint ventures between the two countries’ private sectors.
During the forum, Al Owais stressed the importance of strengthening the UAE-Lebanon economic partnership and expanding business-to-business cooperation between the two markets, with a focus on boosting trade and investment flows and unlocking new opportunities for the private sector.
Four more MoUs signed
Beyond the business council agreement, the forum also saw the signing of four additional memoranda of understanding covering key economic areas, reflecting growing momentum in UAE-Lebanon economic relations.
Discussions at the forum, which brought together senior government and business leaders from both countries, centred on identifying high-potential trade and investment opportunities, strengthening direct business connections, easing market entry, and promoting two-way investment.
Al Shamsi said the strong turnout of business leaders and investors at the forum reflected growing private-sector interest in exploring opportunities in Lebanon, particularly in priority growth sectors.
“The establishment of the UAE-Lebanon Joint Business Council will provide a structured platform for strengthening engagement between investors and entrepreneurs and promoting available investment opportunities in both countries,” Al Shamsi said, adding that the council is expected to build a stronger pipeline for new business partnerships, investment projects and commercial ventures.
Source: Khaleej Times