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UAE, Lebanon look to boost economic ties

BEIRUT: The United Arab Emirates and Lebanon are seeking stronger economic ties, officials from the two countries said over the weekend.

President Michel Sleiman discussed Saturday with UAE Economy Minister Saeed al-Mansouri the implementation of a recently agreed action plan aimed at developing bilateral ties, the National News Agency reported.

Mansouri said the two sides have agreed to reactivate a joint economic committee that will enhance cooperation in the fields of agriculture, alternative energy, industry and small and medium enterprises.

The minister also briefed the president on the UAE’s plans to bolster food security, adding that the Lebanese agricultural sector could play an important role in realizing such plans.

For his part, Sleiman highlighted the importance of promoting ties between the two countries, voicing hope that bilateral agreements would boost mutual investments and trade.

Earlier, the Lebanese Finance Ministry and its UAE counterpart signed a MoU on tax cooperation. The agreement stipulated that the two sides would cooperate on tax collection and exchange expertise in the areas of modernizing tax legislation and automating taxation systems. 

 
A version of this article appeared in the print edition of The Daily Star on May 14, 2012, on page 5.

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