Lebanese exports fall by 30% because of trouble in exporting to Syria

Following data issued by Weekly Bulletin of "Byblos Bank" that indicated a rise in the trade deficit to $7.57 billion during the first half of this year, attributing this rise to the increase in imports bill by about $612 million, which reached $9.39 billion and the fall in exports by $234 million to $1.82 billion, the president of the Lebanese Industrialists Association, Fadi Gemayel, confirmed yesterday the cumulative decline in exports by nearly 30% (equivalent to USD one billion). Gemayel also pointed out to new complications in exporting to Syria due to new Syrian procedures in handling made-in-Lebanon goods which now require a prior license. Lebanese. And while admitting the importance of the Syrian markets to Lebanese industrialists, Gemayel said he hoped the “standoff needs to be resolved in the framework of cooperation and integration” between the two countries. “We do not want to flood the Syrian markets with Lebanese merchandise, yet, we do not like to see the Syrian goods swamping our markets”. It is to be noted that Agriculture Minister, Akram Shehayeb, issued on 9th of June a decree banning the import of vegetables and fruits from Syria until next February, in order to protect local productions and markets (c.f.  http://bit.ly/2aBemBE). (Al Mustaqbal, Al Diyar, August 3, 2016)