Lebanon has finalized 22 cooperation agreements with Saudi Arabia in preparation for a forthcoming high-level visit aimed at enhancing economic ties. The agreements will cover multiple sectors and are crucial for attracting international aid as the country addresses its economic challenges.
Lebanon has successfully concluded 22 cooperation agreements with Saudi Arabia, aiming to enhance economic relations before a high-level visit planned for next month. This visit may be undertaken by Lebanese President Joseph Aoun, Prime Minister Nawaf Salam, or both, as indicated by Deputy Prime Minister Tarek Mitri in an interview with Asharq.
These developments follow Saudi Crown Prince Mohammed bin Salman’s meeting with President Aoun at the Royal Court in Al-Yamamah Palace on March 3, marking Aoun’s first international visit since assuming office. Their discussions included Lebanon’s ongoing economic crisis and broader regional issues.
The signed agreements span various sectors such as agriculture, intellectual property, consumer protection, environmental management, and water resources. Rabih El-Amine, chairman of the Lebanese Executives Council, highlighted additional agreements involving the Ministry of Information and the General Directorate of Civil Aviation.
Deputy Prime Minister Mitri stated that the implementation of these accords is essential for garnering wider international aid for Lebanon’s economy. He underlined the importance of establishing trust with Arab nations and the global community, mentioning that the agreements are fully drafted and ready for signing.
Lebanon is also in the process of forming an independent fund for refugee affairs, working alongside international organizations to facilitate post-war reconstruction and enhance donor credibility. A World Bank report estimates that Lebanon requires approximately $11 billion for recovery initiatives across ten critical sectors, focusing on necessary infrastructure repairs and private investments.
Furthermore, France has shown interest in hosting a conference to support Lebanon’s recovery efforts. French officials have suggested preliminary meetings or a combined event, with an emphasis on humanitarian aid, reconstruction, and attracting international investment. However, a date for this conference has yet to be determined.
In summary, Lebanon has made significant strides in solidifying its economic partnership with Saudi Arabia through 22 finalized cooperation agreements. These developments occur against the backdrop of Lebanon’s urgent need for international support amidst its ongoing economic struggles. Moreover, plans for a conference hosted by France signal potential international collaboration aimed at aiding Lebanon’s recovery efforts.
Original Source: www.arabnews.com
