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Lebanese Exports Return to Saudi Market After Five-Year Ban
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia /Economy & Trade

Lebanese Exports Return to Saudi Market After Five-Year Ban

From Asharq Al-Awsat · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Outcome reported
  • Lebanese products are returning to the Saudi market after a five-year ban, signaling a restoration of trust and economic opportunity.
  • The Saudi market, representing 85% of the Gulf market, is crucial for Lebanon's agricultural and industrial sectors, which saw exports previously reach $378 million before the 2021 ban.
  • This move is supported by advanced digital inspection mechanisms and signifies Saudi Arabia's commitment to Lebanon's stability and sovereignty.

Lebanese products are once again entering the Saudi market, marking a significant step in rebuilding confidence and unlocking economic opportunities after a five-year pause. This return is particularly vital as the Saudi market alone accounts for approximately 85% of the total Gulf market. Before the ban, Lebanese exports to the Kingdom reached about $378 million annually.

In essence, it is a restoration of trust, which represents the real capital in any sustainable economic relationship

โ€” Rabih el-AmineChairman of the Lebanese Executives Council on the significance of restoring trust in economic relations.

The lifting of the ban, imposed in 2016 following widespread smuggling of contraband, is seen as more than just a commercial restoration. Rabih el-Amine, Chairman of the Lebanese Executives Council, described it as a "restoration of trust," which he considers the true capital in any sustainable economic relationship. He emphasized that this decision revitalizes Lebanon's productive sectors in agriculture and industry, bringing hope to thousands of farmers and surviving factories.

El-Amine highlighted that the ban's removal comes at a critical time for Lebanon's economy, which desperately needs drivers for growth, job creation, and the inflow of hard currency. The decision, implemented following directives from Saudi Crown Prince Mohammed bin Salman and in response to requests from Lebanese President Joseph Aoun and Prime Minister Nawaf Salam, underscores Saudi Arabia's firm stance in supporting Lebanon's stability and sovereignty.

With this decision, Beirut is regaining its gateway to the most important export markets of all, bringing life back to its productive sectors in agriculture and industry, and hope to thousands of farmers in the Bekaa, the south, and the north, as well as to the factories that have survived in the most difficult conditions

โ€” Rabih el-AmineChairman of the Lebanese Executives Council on the economic impact of the Saudi market's reopening for Lebanon.

Crucially, the resumption of trade is underpinned by concrete measures, not just intentions. Modern scanning devices at Lebanese ports and a joint control mechanism allowing the Port of Jeddah to view inspection results in real-time ensure compliance with strict standards. This ensures that Beirut is regaining its role as a reliable partner, whose territory is not used to harm its neighbors.

It confirms that Beirut is regaining its role as a reliable partner whose territory is not used as a launching pad to harm its brothers

โ€” Rabih el-AmineChairman of the Lebanese Executives Council on Lebanon's renewed role as a trustworthy partner.
DistantNews Editorial

Originally published by Asharq Al-Awsat in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.