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

The UAE pledged to support Lebanon's economic development during a forum that raised hopes of Emirati investment, with Foreign Trade Minister Dr Thani Al Zeyoudi meeting Lebanese President Joseph Aoun in Beirut. The two discussed "tangible commercial opportunities," and the forum yielded a "new wave of private-sector partnerships," according to state news agency Wam.

The UAE delegation of 80 members was seen as a sign of improving ties, as Iran's influence on Lebanese politics had for years clouded relations with Gulf countries. Dr Al Zeyoudi reaffirmed the UAE's commitment to supporting Lebanon's stability, sovereignty, and economic development. Four agreements were signed at the two-day forum, including the establishment of a UAE-Lebanon Business Council and links between the chambers of commerce in Abu Dhabi and Beirut.

UAE businesses in various sectors, including health, energy, aviation, tourism, and AI, were represented. UAE businesses also hope to gain a "first-mover advantage" by investing in sectors like logistics, agriculture, energy, aviation, and tourism. Lebanon's economic needs have grown after years of conflict and a financial crisis, with the 2020 Beirut port explosion further exacerbating the situation.

Although a framework agreement to replace Israeli military presence with Lebanese state authority has recently been brokered, Israeli attacks have continued despite the tenuous ceasefire.