Conditions for receiving IDAL’s export support

Following the closure of vital land routes via Syria and the actual transfer of the LBP 21 billion to the Investment Development Authority of Lebanon (IDAL) to subsidize the export by sea of domestic industrial and agricultural goods, IDAL chief announced last Wednesday the formal launching of the Exports Maritime Bridge Program calling on producers to register in the program.  Nabil Itani noted the departure last August 6th of the first container vessel carrying 53 trucks from the northern Port of Tripoli and destined towards the port of Duba in Saudi Arabia, adding that he expected nearly 150 thousand tons of products to transit via this new sea route in a period of seven months. Furthermore, Itani pointed out that government financial support will focus exclusively on the two export lines stretching from Lebanon to Duba, KSA or to Aqaba, Jordan, saying there will be no retroactive compensation for shipments sent earlier via RORO carriers from Tripoli Port. Exporters wishing to benefit from the programme can submit their applications directly to the state-run agency or via the website, investinlebanon.gov.lb. (As Safir, An Nahar, Al Mustaqbal, September, 19 and 23, 2015)