The UAE and Lebanon have revived a joint business council aimed at increasing trade and investment, and developing new partnerships between companies in the two countries.
The Federation of UAE Chambers of Commerce and Industry signed an agreement with the Federation of the Chambers of Commerce, Industry and Agriculture in Lebanon during the UAE-Lebanon Business Forum in Beirut, it was formally announced on Sunday.
Abdallah Sultan Al Owais, vice chairman of the Federation of UAE Chambers and chairman of the Sharjah Chamber of Commerce and Industry, signed the agreement with Mohamed Choucair, chairman of the Lebanese federation.
The joint UAE-Lebanon Business Council will provide a platform for exchanging market intelligence and expertise, promoting trade and investment opportunities, and developing partnerships and joint ventures.
The forum, which ended on Thursday, also resulted in four agreements covering several economic areas. Discussions focused on easing market entry, encouraging two-way investment and identifying sectors offering opportunities for companies from both countries.
Dr Thani Al Zeyoudi, Minister of Foreign Trade, who led an 80-member UAE delegation to Beirut, said discussions at the forum demonstrated “the readiness of UAE and Lebanese businesses to move from dialogue to partnership”.
Business leaders told The National during the forum that they hoped to gain a “first-mover advantage” by investing in sectors of Lebanon's economy including logistics, agriculture, energy, aviation and tourism.
The council is also expected to identify high-growth sectors and build a pipeline of investment projects and commercial ventures between UAE and Lebanese companies.
Renewed ties
The initiative revives a business mechanism dating back almost two decades. The UAE and Lebanese chambers signed an agreement in Beirut in 2008 to establish an Emirati-Lebanese Business Council.
The latest move comes as the two countries rebuild economic ties after several years of strained diplomatic relations.
The UAE has historically been a significant investor in Lebanon. Between 2003 and 2016, it was the largest source of Arab direct investment into the country, with investments worth $7.8 billion, according to the Ministry of Foreign Affairs.
Relations deteriorated sharply in 2021, when the UAE withdrew its diplomats from Beirut alongside moves by Saudi Arabia and other Gulf states. The dispute followed comments by Lebanon's then-information minister about the Saudi-led coalition's involvement in Yemen and broader Gulf concerns about the influence of Iran-backed Hezbollah in Lebanon.
A diplomatic reset followed the election of Joseph Aoun as Lebanon's President in January 2025, ending a vacuum that had lasted more than two years. The UAE reopened its embassy in Beirut later that month.
The rapprochement gathered pace during Mr Aoun's visit to Abu Dhabi in May 2025, when the countries agreed to expand economic and investment co-operation, and establish a joint business council. The UAE also lifted restrictions on Emirati citizens travelling to Lebanon.
Trade momentum
Bilateral non-oil trade reached $4.2 billion in 2025, an annual increase of 35.6 per cent, according to Wam.
The latest business forum brought together senior government officials and business leaders to identify investment opportunities and strengthen direct links between UAE and Lebanese companies.
The council will focus on priority sectors and joint economic initiatives, while facilitating direct engagement between investors and entrepreneurs, with the aim of increasing bilateral trade and investment, and supporting new joint ventures.
