UAE Business Delegation Visits Lebanon to Establish New Council and Secure Investments

Lebanon welcomed a delegation of over 80 economic leaders and private-sector representatives from the UAE on Wednesday, marking a significant thawing in bilateral relations with the announcement of a new business council. The newly formed group aims to pave the way for Emirati investments in Lebanon’s struggling economy. The Lebanese-Emiliano Economic Forum, featuring Dr Thani Al Zeyoudi, Minister of Foreign Trade, is running in Lebanon for two days. Business figures told The National they have been in the country since last week to secure a 'first-mover advantage' in sectors such as logistics, agriculture, energy, aviation, and tourism.

“I think that if everyone waits until the crisis is over, it will take time,” said Mohamed Yusuf Adam, vice president of the National Pulse investment conglomerate in the UAE and a member of the delegation. “Let's create more justifications for calming the situation through economic co-operation.” Mr Adam urged business leaders to focus on economic improvements rather than waiting for the crisis to be fully resolved. Mohammad Choucair, head of the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon and organiser of the forum, described the delegation as 'a message of affection, support and confidence in Lebanon.'

Mr Choucair highlighted that the establishment of the Lebanese-Emirati Business Council, the lifting of an Emirati travel ban in June, and the high-level visit all point to strong fraternal relations. He noted that Lebanon has regained its sovereignty following a government decision to outlaw Hezbollah’s military and security operations. Years of conflict have weakened Hezbollah, with Israel targeting much of its leadership and arsenal, placing the group under intense pressure to surrender its weapons. In July, Lebanon signed a preliminary agreement with Israel to end hostilities as Israel begins a phased withdrawal from south Lebanon.

Lebanon’s US-backed President, Joseph Aoun, has emphasized the necessity of restoring sovereignty and stopping foreign interference. “Today there is a Lebanese state and a Lebanese government speaking for Lebanon,” Mr Choucair stated. Abdulaziz Mohammed Al Shamsi, assistant director-general of the Sharjah Chamber of Commerce and Industry, announced that the UAE-Lebanon Business Council will develop an investment road map to open up new opportunities.

Participants view the revival of economic ties as mutually beneficial. While providing a much-needed boost to Lebanon, it also allows the UAE to diversify its economy beyond oil revenue, according to Dr Thani Al Zeyoudi. He pointed to Lebanon's strong human capital and diaspora in the UAE as assets for future partnerships. Mr Adam concluded that the timing is right for early investments, emphasizing that the relationship is reciprocal and works both ways.