“Lebanon Debate”
The Minister of Economy and Trade, Amer Al-Bassat, linked the recovery of the Lebanese economy to carrying out real reforms and consolidating the state’s sovereignty, the exclusivity of weapons, and the decision of war and peace in its hands, calling for exploring the framework of a special economic partnership between Lebanon and the UAE to deepen trade, investment and the transfer of knowledge. He considered that the presence of the UAE economic delegation to Beirut, in light of the difficult circumstances the country is going through, carries a clear message of confidence that “Lebanon has not been removed from the accounts.”
Al-Bassat’s positions came during a Lebanese-Emirati forum to enhance cooperation and sign strategic memorandums of understanding, in the presence of Prime Minister Nawaf Salam and the UAE Minister of Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, who heads the UAE economic delegation, along with ministers and representatives of economic bodies, chambers of commerce and industry, and the two countries’ business councils.
He said: “Lebanon is going through one of the most difficult stages in its modern history. We are in a state of war, and our economy is still suffering under the weight of years of crises, and pretending otherwise does not serve Lebanon and is not worthy of the seriousness of your visit.”
He added: “For this very reason, your presence today has exceptional weight. At a moment when Lebanon needs the trust of its friends more than ever before, you chose to be here. This is a clear message to the Lebanese, investors, and our private sector that Lebanon has not been written off from the accounts.”
He pointed out that the visit constitutes an extension of a well-established relationship between the two countries, saying: “Lebanon and the Emirates have never been strangers to each other. We are not starting a new relationship today, but rather we are building on a long history of economic and humanitarian ties.”
Al-Bassat presented four main topics, including Lebanon’s productive capabilities, the requirements for reform and sovereignty, the role of the private sector in leading recovery, and the prospects for deepening the economic partnership with the UAE.
Regarding production capabilities, he stressed that “Lebanon’s capabilities are much greater than what it produces today. We have a dynamic private sector, exceptional human competencies, and deep relations with the region and the world. These are all ingredients that have not disappeared due to the crisis, and these capabilities can be transformed into real opportunities.”
He pointed out that “major investment opportunities sometimes begin before the recovery is complete, when its features begin to appear, and hence the importance of your visit today.”
He stressed that capabilities alone are not enough to achieve growth, explaining that “transforming them into growth and prosperity requires real reform: economic reform, reform of the banking sector, the financial framework, basic services, and the way the state works.”
He added: “But it also needs to establish a non-negotiable principle: state sovereignty, the exclusivity of weapons, and the decision of war and peace in the hands of the state, and the state alone. No economy will flourish, and no investor will plan with confidence, if these decisions are not in the hands of the state alone.”
Regarding the role of the private sector, Al-Bassat believed that “recovery must be, in its essence, a private sector project,” considering that the UAE provides a model for a country that does not replace it, but rather creates conditions for success for it, starting with clarity of rules and ease of doing business, all the way to long-term planning and openness to competencies, capital, and global markets.
He said: “In Lebanon, we have a strong foundation to build on. Our private sector is one of the most pioneering sectors in the region, and a large part of it has found a home in the Emirates,” adding: “I do not see two economic delegations that are alien to each other, but rather a business community linked by relationships and partnerships built over decades.”
He called for advancing these relations towards a deeper economic partnership, pointing out that the UAE’s integration into the global economy constituted a conscious choice that was translated into trade agreements and comprehensive economic partnerships.
In this context, Al-Bassat quoted Al-Zeyoudi as saying that the UAE concluded 38 agreements with countries around the world during the last five years, describing this as a “record number,” stressing that “Lebanon has lagged far behind in this field, and it is time for us to change that.”
He said: “I propose today that we begin exploring the framework of a special economic partnership between Lebanon and the Emirates, and a practical path to deepen trade and investment, transfer knowledge, and link our companies and markets. In this, we want not only your companies, but also to benefit from your experience and expertise.”
Al-Bassat concluded by stressing that “Lebanon has much greater capabilities than its current reality, and transforming them into growth requires reform and sovereignty. The private sector must lead the recovery, and the UAE can be a key partner in that.”
He added: “The difficulties facing Lebanon are great, and some of them are existential, but we also have real reasons for action. Lebanon has not been written off from the accounts, and our mission is to make it once again a country worthy of trust and capital,” thanking the Emirati delegation for coming to Beirut “before the ambiguity disappears completely.”
