Lebanon has finalized 22 cooperation agreements with Saudi Arabia to strengthen economic ties, ahead of a potential high-level delegation visit. The agreements encompass diverse sectors and are crucial for securing international aid. An independent fund for reconstruction is being created, with France offering to host a supportive conference.
Lebanon has successfully concluded 22 cooperation agreements with Saudi Arabia, which are expected to enhance economic relations amid a high-level visit scheduled for next month. Key figures potentially leading this delegation include President Joseph Aoun and Prime Minister Nawaf Salam, as noted by Deputy Prime Minister Tarek Mitri during an interview with Asharq.
This initiative follows a meeting on March 3, where Saudi Crown Prince Mohammed bin Salman hosted President Aoun at his Royal Court, marking Aoun’s first international visit since taking office. Discussions centered on addressing Lebanon’s economic crisis and broader regional issues.
The cooperation agreements span various sectors such as agriculture, intellectual property, consumer protection, and environmental management, aiming to foster support for Lebanon’s ailing economy through enhanced international aid. Mitri emphasized, “This is a legitimate approach, and we must earn the trust of Arab nations and the international community,” highlighting the importance of Saudi Arabia’s backing.
Among the agreements, Rabih El-Amine, chairman of the Lebanese Executives Council, mentioned collaborations involving the Ministry of Information, General Directorate of Civil Aviation, and Banque du Liban. This comprehensive set of deals is positioned to streamline Lebanon’s economic recovery efforts.
In addition, Lebanon is establishing an independent fund for post-war reconstruction, in collaboration with international organizations. This fund aims to enhance credibility among donors, especially after recent conflicts involving Hezbollah. A World Bank report indicates Lebanon needs approximately $11 billion for recovery, detailing necessary investments across key sectors.
Mitri revealed that France has shown interest in organizing a conference to support Lebanon’s recovery efforts. French officials are considering preliminary meetings or possibly integrating them into one event, with a focus on humanitarian aid and reconstruction alongside attracting investment from international stakeholders.
Lebanon’s recent agreements with Saudi Arabia underline a strategic push to revitalize its economy and secure international support. The collaboration spans multiple sectors and is crucial for attracting necessary recovery funds. Moreover, the establishment of an independent fund signifies a commitment to transparency and effective management of reconstruction efforts, while France’s willingness to host a supportive conference adds further international engagement in Lebanon’s recovery journey.
Original Source: www.arabnews.com
