Lebanese President Emphasizes the Importance of the Arab Private Sector's Role in Opening Markets to Lebanese Products
Beirut, Jan 1 (KUNA) -- Lebanese President Joseph Aoun stressed on Tuesday the importance of the role of the Arab private sector in opening new markets for Lebanese products, encouraging investments, supporting economic activity, and creating job opportunities.
In a statement, the Lebanese Presidency said that President Aoun, during his meeting with the Secretary-General of the Union of Arab Chambers, Dr. Khaled Hanafi, and in the presence of Dr. Yusuf Al-Subaie, Advisor to the Deputy Head of the Arab League delegation in Beirut, highlighted the significance of Arab economic institutions in Beirut, describing them as “a reflection of Lebanon’s deep ties with its Arab environment.” He affirmed the necessity of keeping the Union’s headquarters in the capital, Beirut, to continue its pioneering role in serving the Arab economy.
President Aoun noted that Lebanon possesses the prerequisites to reclaim its role as an Arab economic and financial hub, emphasizing the importance of enhancing economic and trade cooperation between Lebanon and Arab countries, and the role of the private sector and the Union of Arab Chambers in supporting the path toward economic recovery and reconstruction.
For his part, Hanafi affirmed the Union’s and the Arab Chambers network’s readiness to work with the Lebanese business community in the coming period by promoting investment opportunities in Lebanon, organizing economic missions and forums, linking Lebanese companies with their Arab counterparts, and contributing to attracting investors and capital to productive and developmental projects. He considered that Lebanon “needs not only support but also partnerships and investments that restart its productive capacities and create jobs,” stressing that restoring confidence is a fundamental element in reviving economic and investment activity.
Hanafi said that “Lebanon’s stability and economic recovery are not only in Lebanon’s interest but also in the Arab interest, and Lebanon’s strong return to its Arab economic environment represents an added value for the Arab economy as a whole.”
It is worth noting that the Union of Arab Chambers has been headquartered in Beirut since its establishment in 1951. It serves as the institutional umbrella for the Arab private sector and includes unions and chambers of commerce and industry in Arab countries, as well as a network of Arab and foreign chambers operating in several countries around the world. (End) A.Y.B./S.M.A.
