The UAE on Thursday pledged to support Lebanon's economic development on the final day of a business forum that has raised hopes of Emirati investment.
Dr Thani Al Zeyoudi, Minister of Foreign Trade, met Lebanese President Joseph Aoun during the forum in Beirut, where they discussed the “tangible commercial opportunities” that are envisaged, state news agency Wam reported.
It said the forum had produced a “new wave of private-sector partnerships”. The visit to Lebanon by the 80-member UAE delegation is seen as a sign of improving ties, after the influence of Iran and Hezbollah on Lebanese politics had for years clouded relations with Gulf countries.
In his meeting with Mr Aoun, Dr Al Zeyoudi reaffirmed the UAE’s commitment to supporting Lebanon’s stability, sovereignty and economic development, Wam reported.
Discussions at the forum “demonstrated the depth of commercial interest on both sides and the readiness of UAE and Lebanese businesses to move from dialogue to partnership”, the minister said. “We are committed to sustaining this momentum and translating it into measurable outcomes for both our economies.”
Four agreements were signed during the two-day forum. One has established a UAE-Lebanon Business Council, while a second links the chambers of commerce in Abu Dhabi and Beirut.
Two others were signed by UAE company Elite Agro Holding, which hopes to work on farming research with the American University of Beirut and on designing greenhouses with the Georges Daccache & Sons company. UAE businesses in the health, energy, aviation, tourism and AI sectors were also represented.
The UAE in June lifted a ban on Emiratis travelling to Lebanon in another sign of improving relations. The volume of non-oil trade reached $4.2 billion last year, more than a third higher than in 2024.
Speaking to The National at the forum, business leaders said they were hoping to gain a “first-mover advantage” by investing in sectors of the Lebanese economy such as logistics, agriculture, energy, aviation and tourism.
Lebanon has substantial economic needs after years of conflict between Israel and Hezbollah, which came after a major financial crisis and the 2020 Beirut port explosion.
The US recently brokered a framework agreement between Israel and Lebanon that aims to replace the Israeli military presence with Lebanese state authority. However, Israeli attacks on the country have continued despite the tenuous ceasefire.
