Some 1000 commercial establishments of Beirut and the trade sector in tethers

Quoting the latest commercial data, the President of the Committee for Commercial Markets in Beirut, Rashid Kibbeh, disclosed that over one thousand enterprises in the different markets of the capital, have closed down completely. Kibbeh who was speaking to Al Mustaqbal newspaper named the downtown commercial district as one example, in addition to the shops scattered in the neighborhoods of Corniche al Mazra3a, Mar Elias, Barbour, Hamra and vicinity, Furn el Chebbak, Badaro, Nuweri, Basta, Verdun, Ashrafieh, Afeef Tibi, Cola and Wata Musaytbeh. Kibbeh warned that “unless the causes of the crisis are addressed immediately, these figures are likely to rise considerably over a short period of time.” He stressed that the resistance of similar businesses has weakened  after “they lost their backup system following years of decline.” Kibbe indicated another new factor that is widely seen in the expansion of transactions by Syrian business people, which is mostly illegal. He pointed out to “an established network of Syrian traders who tend to import wholesale items and smuggle them into Lebanon to be later distributed among Syrian retailers operating over all the Lebanese territory and unfortunately unchecked by the authorities.” Kibbeh grieved the losses incurred on many commercial sectors, some being seriously threatened with closure, urging the ministries of interior and economy to intervene and stop illegal activities. The Committee’s President voiced his concern over a further deterioration of the situation  He further added that the sector is expected to remain in a dire situation in view of the general conditions still prevailing in the country. (Al Mustaqbal, April 8, 2016)