The giant cranes at the container terminal of the Port of Beirut. (Credit: Philippe Hage Boutros/Archives L’Orient-Le Jour)
Industry Minister Joe Issa al-Khoury on Wednesday unveiled a new roadmap aimed at strengthening Lebanon’s food security and boosting exports to reduce the country’s trade deficit. The announcement came during a conference at the Ministry of Industry.Issa al-Khoury opened with a bleak assessment of past government spending, noting that from 2000 to 2019, successive governments spent about $238 billion — but only $83 million, or just 0.03 percent, was allocated to the Industry Ministry. He said this lack of funding hampered oversight of the sector and limited its export capacity.He pointed to an average annual trade deficit of roughly $15 billion, with imports reaching $18 billion and exports only $3 billion. “We must reduce this deficit by decreasing imports — by replacing them with locally made products — and by increasing exports,” he...
Industry Minister Joe Issa al-Khoury on Wednesday unveiled a new roadmap aimed at strengthening Lebanon’s food security and boosting exports to reduce the country’s trade deficit. The announcement came during a conference at the Ministry of Industry.Issa al-Khoury opened with a bleak assessment of past government spending, noting that from 2000 to 2019, successive governments spent about $238 billion — but only $83 million, or just 0.03 percent, was allocated to the Industry Ministry. He said this lack of funding hampered oversight of the sector and limited its export capacity.He pointed to an average annual trade deficit of roughly $15 billion, with imports reaching $18 billion and exports only $3 billion. “We must reduce this deficit by decreasing imports — by replacing them with locally made products — and by increasing...
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