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UAE and Lebanon ink trade accord

posted on 25/06/2002: 730 views

The UAE and Lebanon have agreed to exchange endorsement documents of the economic, trade and technical agreement between their respective governments. A signing ceremony of the exchange minutes was held in Abu Dhabi yesterday at the Ministry of Foreign Affairs. Foreign Ministry Under Secretary Saif Saeed bin Saed, who signed for the UAE, hailed relations between the two countries.

He said the agreement was a qualitative step in mutual cooperation and paved the way for the formation of a joint committee between the two countries. Signing for his country, Hassan Berro, ambassador of Lebanon, said the UAE and Lebanon were up bound with a number of cooperation accords including agreements for the setting up of a free trade zone area between the two countries, evasion of double taxation and cooperation in the field of transport.

Article 11 of the agreement, signed by Minister of Economy and Trade Sheikh Fahim bin Sultan Al Qasimi, and his Lebanese counter-part on April 15, 2000, provides that the two parties should work together to strengthen bilateral relations in economic and trade fields and spur capital movement between the two countries. (The Emirates News Agency, WAM)


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