Lebanon has completed 22 cooperation agreements with Saudi Arabia, paving the way for a high-level visit next month to enhance economic ties. The agreements cover various sectors and are vital for securing broader international aid to help Lebanon’s struggling economy. A significant conference is also anticipated to support Lebanon’s recovery efforts.
Lebanon has recently finalized 22 cooperation agreements with Saudi Arabia, marking a significant step toward enhancing economic relations as preparations for a high-level visit next month progress. This visit, which may be led by President Joseph Aoun, Prime Minister Nawaf Salam, or both, signifies Lebanon’s desire to solidify ties with Saudi Arabia amidst ongoing regional challenges, as highlighted by Deputy Prime Minister Tarek Mitri in an interview with Asharq.
These agreements encompass various sectors, including agriculture, intellectual property, consumer protection, and environmental management, all designed to facilitate international aid for Lebanon’s beleaguered economy. Emphasizing the importance of these commitments, Mitri stated, “This is a legitimate approach, and we must earn the trust of Arab nations and the international community,” highlighting that Saudi Arabia’s backing is crucial for securing further support.
During Aoun’s recent visit to the Royal Court in Al-Yamamah Palace on March 3, his discussions with Crown Prince Mohammed bin Salman focused on Lebanon’s crisis and regional dynamics. Aoun hopes this dialogue will enable a subsequent visit to formally sign the agreements that aim to reinforce bilateral cooperation between Lebanon and Saudi Arabia.
Additionally, the Lebanese government is creating an independent fund dedicated to refugee affairs in collaboration with international organizations, thereby enhancing credibility with donors following recent conflicts. A World Bank report outlines Lebanon’s reconstruction needs will require approximately $11 billion, dividing necessary public and private investments into infrastructure repairs and housing, trade, and tourism sectors.
Moreover, France has expressed its willingness to host a conference aimed at supporting Lebanon’s recovery efforts, with French officials suggesting meetings that may combine into a singular event to discuss humanitarian aid and reconstruction, although a specific date remains undecided. The conference is anticipated to draw international investors, further aiding Lebanon’s economic revitalization efforts.
In conclusion, Lebanon’s finalization of 22 cooperation agreements with Saudi Arabia represents a strategic initiative to bolster economic ties and secure much-needed international aid. The agreements span crucial sectors, and Lebanon’s efforts to enhance credibility with international donors are vital, particularly in light of the country’s significant reconstruction needs estimated at $11 billion. The forthcoming high-level visit and potential international conference further underscore the collaborative efforts aimed at revitalizing Lebanon’s economy.
Original Source: www.arabnews.com
