Lebanon, Syria launch talks to reset trade ties, review Assad-era deals

Lebanon and Syria will begin revising decades-old trade agreements in the coming months to revive their economic relationship, according to Lebanon's economy minister, Amer Bisat. This initiative follows the 2024 ouster of Syrian leader Bashar al-Assad and aims to reset bilateral ties after nearly half a century of Syrian military presence in Lebanon.

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That economic relationship needed to be reset, and it has the potential of being the most important bilateral relationship for both countries.

Bisat stated that the economic relationship has the potential to become the most important bilateral relationship for both countries. Syria has historically used Lebanon as a primary export corridor for its trade, particularly during the 14-year war that ended with Assad's ouster. At its peak, total trade between the two nations approached $800 million, but last year it stood at around $250 million. Bisat believes the relationship "should be measured in the billions."

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should be measured in the billions

As a first step, a committee established in early July will review more than 40 agreements and memoranda of understanding from the Assad era. These pacts cover investment frameworks, visa and tax regimes, and other aspects of Syrian-Lebanese trade. The review process is expected to take several months.

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not uniform

Looking ahead, the countries may pursue a larger bilateral trade deal, though this could take longer to finalize. Such an agreement would need to address logistical challenges for land transport and standardize tariffs, which are currently uneven. Bisat noted that "Lebanese exporters pay an export tariff, and the Syrians don't."

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Lebanese exporters pay an export tariff, and the Syrians don't.