Saudi Minister of Commerce Majid bin Abdullah Al Qasabi received Lebanese Minister of Economy and Trade Amin Salam, and they discussed the future of bilateral relations, particularly in trade and investment. This meeting follows a long-standing trade ban imposed by Saudi Arabia on exchanges with Lebanon, along with other Gulf Cooperation Council countries, resulting in significant losses for the Lebanese economy.
Salam revealed that during the meeting, they discussed efforts to reactivate commercial activity between the Kingdom and Lebanon, especially in importing and exporting, through a bilateral trade initiative aimed not only at restoring trade to its previous state but also at enhancing and developing it, expanding into new sectors aligned with economic developments in various fields, notably technology, manufacturing, food industries, and pharmaceuticals. This is part of the Ministry of Economy and Trade’s initiative titled "The New Identity of the National Economy - The Economy of Innovation and Knowledge," which aims to bring about a qualitative leap for the economy, trade, and investment.
He stated, "After a series of meetings with the relevant ministers, I confirm, rather I assert, that the Kingdom of Saudi Arabia is making every effort to assist Lebanon, provided that it adheres to its commitments in terms of efforts to curb drug smuggling into the Kingdom, implementing the necessary reforms, and enhancing confidence in the Lebanese economy. We agreed to establish direct communication channels with those concerned to expedite this file."
He added, "Next Monday, I will submit a document that records all the problems faced by Lebanese exporters and importers to assist them in facilitating their matters after a series of positive meetings with all Gulf Cooperation Council countries. We all believe that this cloud will soon dissipate for good."
During the meeting, Salam emphasized that "the coming phase for our Arab world is characterized by 'zero conflicts and a revolutionary economic development' to entrench the concept of Arab integration among all Arab countries and open up to global and regional markets specifically." He pointed out that "Lebanon, the resilient and beautiful country, has a significant and rare opportunity not just to be the Paris or Switzerland of the East but to be Lebanon, the Eastern Coast of the Arabs on the Mediterranean Sea, the land of cedar, springs, and the four seasons."
For his part, Minister of Commerce Majid bin Abdullah Al Qasabi welcomed Minister Salam's proposals and the positivity he brought to the officials in the Kingdom, believing that "the history and relations binding the two countries will not only return to what they were but will flourish even more and foster closer cooperation."
