Collage of the flags of Lebanon and Saudi Arabia. (Credit: Anastasiya Guseva/Bigstock)
BEIRUT — After years of diplomatic strain and a near-total collapse in trade ties, Saudi Arabia’s decision Wednesday to lift its ban on Lebanese exports marked a major turning point in the two countries’ relations.“It is a signal of confidence,” said Rabih El-Amine, president of the Lebanese Executive Council (LEC). The reopening of the Saudi market gives Lebanese exporters renewed access to what was historically one of the country’s most important destinations for agricultural and industrial goods, and a vital source of hard currency, “at a time when the economy needs both badly,” he added. Lebanon has been mired in an economic crisis for more than six years, and in wars and fragile cease-fires between Israel and Hezbollah for three.Saudi Arabia was among Lebanon’s top export markets, its third-largest in 2020, and a key transit route...
BEIRUT — After years of diplomatic strain and a near-total collapse in trade ties, Saudi Arabia’s decision Wednesday to lift its ban on Lebanese exports marked a major turning point in the two countries’ relations.“It is a signal of confidence,” said Rabih El-Amine, president of the Lebanese Executive Council (LEC). The reopening of the Saudi market gives Lebanese exporters renewed access to what was historically one of the country’s most important destinations for agricultural and industrial goods, and a vital source of hard currency, “at a time when the economy needs both badly,” he added. Lebanon has been mired in an economic crisis for more than six years, and in wars and fragile cease-fires between Israel and Hezbollah for three.Saudi Arabia was among Lebanon’s top export markets, its third-largest in 2020, and a...
Israel continues attacks on southern Lebanon, demolishes buildings in Bint Jbeil