UAE and Lebanon revive joint business council as economic ties gather pace

The United Arab Emirates (UAE) and Lebanon have re-established a joint business council to bolster trade and investment and forge new partnerships between firms in both nations. This accord, signed during the UAE-Lebanon Business Forum in Beirut, was announced on Sunday by the Federation of UAE Chambers of Commerce and Industry, which collaborated with the Federation of Lebanese Chambers of Commerce, Industry, and Agriculture.

Abdallah Sultan Al Owais, vice chairman of the UAE federation and chairman of the Sharjah Chamber of Commerce and Industry, signed the agreement alongside Mohamed Choucair, chairman of the Lebanese federation.

The UAE-Lebanon Business Council will serve as a forum for sharing market insights and expertise, promoting trade and investment prospects, and nurturing collaborations and joint ventures. The recent forum also yielded four additional agreements spanning various economic domains. Topics centered on facilitating market entry, encouraging mutual investment, and pinpointing areas presenting opportunities for enterprises from both countries.

Dr Thani Al Zeyoudi, Minister of Foreign Trade, spearheading an 80-member UAE delegation to Beirut, remarked that discussions at the forum highlighted "the UAE and Lebanese businesses' willingness to transition from dialogue to partnership." Business executives expressed at the forum their aspiration to achieve a "first-mover advantage" by investing in Lebanon's economy, specifically in sectors like logistics, agriculture, energy, aviation, and tourism.

The council aims to identify high-growth sectors and construct a pipeline of investment projects and commercial ventures between UAE and Lebanese entities.

This initiative revitalizes a business mechanism that existed nearly two decades ago. The UAE and Lebanese chambers signed a pact in Beirut in 2008 to establish an Emirati-Lebanese Business Council. The current development comes as the two nations rebuild economic ties after a period of strained diplomatic relations. Historically, the UAE has been a substantial investor in Lebanon, ranking as the largest Arab source of direct investment from 2003 to 2016, with investments amounting to $7.8 billion, as per the Ministry of Foreign Affairs.

Relations soured significantly in 2021 when the UAE removed its diplomats from Beirut, alongside Saudi Arabia and other Gulf states, following Lebanon's information minister's comments about the Saudi-led coalition's involvement in Yemen and concerns over the influence of Iran-backed Hezbollah in Lebanon. The UAE restored its embassy in Beirut in May 2025, coinciding with the election of Joseph Aoun as Lebanon's President, which ended a more than two-year gap in diplomacy.

The rapprochement intensified during Aoun's visit to Abu Dhabi in May 2025, where both nations agreed to expand economic and investment cooperation and establish the joint business council. UAE restrictions on Emirati citizens traveling to Lebanon were also lifted.

Bilateral non-oil trade between the two countries reached $4.2 billion in 2025, marking a 35.6% annual increase, according to Wam. The latest business forum convened senior government officials and business leaders to pinpoint investment opportunities and consolidate direct links between UAE and Lebanese companies. The council will concentrate on priority sectors and joint economic initiatives while fostering direct engagement between investors and entrepreneurs, with the aim of boosting bilateral trade and investment and supporting new joint ventures.