Lebanon and Saudi Arabia Forge 22 Agreements Ahead of Key Diplomatic Visit
Lebanon has concluded 22 cooperation agreements with Saudi Arabia ahead of a significant high-level visit, aimed at enhancing economic ties and securing international aid for its economy. The agreements span agriculture, intellectual property, and environmental management. Lebanon is also establishing an independent fund for post-war reconstruction, and France has shown interest in hosting a support conference for Lebanon’s recovery efforts.
Lebanon has successfully finalized 22 cooperation agreements with Saudi Arabia, paving the way for an important high-level visit next month intended to foster economic relations. Deputy Prime Minister Tarek Mitri indicated that this delegation may be led by either President Joseph Aoun, Prime Minister Nawaf Salam, or both, according to an interview with Asharq.
This agreement follows a meeting between Saudi Crown Prince Mohammed bin Salman and President Aoun at the Royal Court, marking Aoun’s initial foreign visit since assuming office. Their discussions focused on Lebanon’s ongoing crises and regional developments, emphasizing the significance of Saudi support in garnering broader international aid for Lebanon’s beleaguered economy.
The 22 agreements encompass various sectors, including agriculture, intellectual property, consumer protection, and environmental management. Rabih El-Amine, chairman of the Lebanese Executives Council, highlighted the inclusion of provisions related to the Ministry of Information, the General Directorate of Civil Aviation, and Banque du Liban. Importantly, these agreements are fully drafted and ready for execution.
In a strategic move, Lebanon is developing an independent fund to manage post-war reconstruction efforts, distinct from government entities engaged with refugee affairs. This initiative aims to build trust with international donors amidst the backdrop of recent conflicts. A World Bank report estimated Lebanon requires about $11 billion for its recovery and reconstruction across ten critical sectors.
Mitri also mentioned France’s readiness to host a conference aimed at supporting Lebanon’s recovery. Although no date has been finalized, proposals for preparatory meetings or a consolidated event have been made, focusing on humanitarian assistance and reconstruction efforts, supplemented by a separate initiative to attract international investment.
In summary, Lebanon’s finalization of 22 agreements with Saudi Arabia marks a significant step towards strengthening economic ties and securing vital international support. The upcoming high-level visit, which may involve President Aoun and Prime Minister Salam, aims to further these cooperative efforts. Additionally, the establishment of an independent fund for post-war reconstruction seeks to enhance transparency and credibility with international donors, as Lebanon seeks to address its significant financial recovery needs.
Original Source: www.arabnews.com
