The UAE and Lebanon are stepping up economic cooperation by reviving a joint business council. This aims to increase bilateral trade, investment, and private-sector partnerships.
The agreement was signed during the UAE-Lebanon Business Forum in Beirut. The Federation of UAE Chambers of Commerce and Industry and the Federation of the Chambers of Commerce, Industry and Agriculture in Lebanon signed the memorandum of understanding.
The council aims to create a platform for companies from both countries to exchange market intelligence, identify investment opportunities, and develop joint ventures. It will also work to ease market access and strengthen direct engagement between investors and entrepreneurs.
New initiatives are expected to include identifying key high-growth sectors and developing common economic plans. Key sectors include logistics, agriculture, energy, aviation, tourism, infrastructure, reconstruction, food security, and technology.
UAE businesses are seeking ways to get into Lebanon’s markets, with Lebanon being in need of new funding to revitalize its economy. The council will bring a structure through which businesses will be able to identify and develop joint ventures and projects.
The inaugural meeting of the Joint UAE-Lebanon Business Council was also held in Beirut. Members discussed its work plan, including sector-specific business forums, investment facilitation and measures to reduce barriers to trade and investment.
The council revives a mechanism first agreed by the two countries' chambers in 2008. Its return comes amid improving diplomatic and economic relations between Abu Dhabi and Beirut.
The latest initiative signals a shift from renewed diplomatic engagement towards practical commercial cooperation. For Lebanon, increased UAE investment could support economic recovery. For UAE companies, the opening creates opportunities in sectors with significant development needs.
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