'New wave' of UAE-Lebanon business ties after minister's visit to Beirut

The UAE pledged to support Lebanon's economic development during a business forum in Beirut, marking a new wave of private-sector partnerships, according to state news agency Wam. UAE Minister of Foreign Trade Dr Thani Al Zeyoudi met with Lebanese President Joseph Aoun to discuss the "tangible commercial opportunities" generated by the forum.

The visit by an 80-member UAE delegation is seen as a positive sign for improving ties, as the influence of Iran and Hezbollah on Lebanese politics had previously clouded relations with Gulf countries.

During the two-day forum, four agreements were signed, including the establishment of a UAE-Lebanon Business Council and a link between the chambers of commerce in Abu Dhabi and Beirut. UAE companies Elite Agro Holding expressed interest in collaborating with the American University of Beirut for farming research and designing greenhouses with Georges Daccache & Sons company. Businesses from various sectors, including health, energy, aviation, tourism, and AI, were also represented at the forum.

UAE businesses are hoping to gain a "first-mover advantage" by investing in sectors such as logistics, agriculture, energy, aviation, and tourism in Lebanon. The country lifted a ban on Emiratis traveling to Lebanon in June, and non-oil trade volume reached $4.2 billion last year, more than a third higher than in 2024. Lebanon has significant economic needs following years of conflict and a major financial crisis, as well as the 2020 Beirut port explosion.

While the US recently brokered a framework agreement between Israel and Lebanon to replace the Israeli military presence, Israeli attacks have continued despite the tenuous ceasefire.