ISLAMABAD, MAR 19 (DNA) – Ms. Mona el Tannir Ambassador of Lebanon has said both Pakistan and Lebanon are focusing on increasing the mutual trade in different fields by encouraging the business community.

 The industrial revolution in Pakistan has encouraged the Lebanese traders to come forward to access to the local markets of Pakistan.

The Lebanese ambassador expressed these views in an interview with DNA.

She further said, “in our embassy we facilitate the business community for we think a closer economic relationship between Pakistan & Lebanon can bring many advantages. It might help to bring Pakistan and Lebanon closer. History shows that countries with high degrees of trade and investment have had less conflict. Additionally, a Pak-Lebanon have signed trade agreement”.

She said, in Lebanon we have liberal investment policies; also boasts a strong laissez-faire commercial tradition. Lebanon offers investors a wide array of investment opportunities in all sectors of the economy, especially in tourism, agriculture, and energy. Furthermore, Lebanon represents a point of entry to a large regional market.

Thousands of years of history, optimal climatic conditions, a very rich culture, and a vibrant nightlife justify Lebanon’s “Pearl of the East” surname. In my opinion that there is a huge area can explore to improve the business relation between the two countries, the ambassador added.

“My personal interactions with the chambers of commerce & industries of Pakistan to informing them about the exhibitions & fairs held in Lebanon round the year to explore the areas for Pakistani goods in our markets. We also encourage the Pakistani traders to visit Lebanon to identify the opportunities, attend the workshops and seminars relating to investment in Lebanon”.

Ambassador Mona said, there is much work to be done in the economic and investment areas and hopefully 2017 will bring the prosperity for trade and economy relationship between our two countries.

The Lebanese economy revolves around Agriculture, Tourism, Commerce, and Banking. Lebanon boasts of having the highest proportion of cultivable land in the whole of the Arab world and it is noted for the cultivation of crops like peaches, apples, lemons and oranges.

The Agricultural sector is one of the major employers of labor in Lebanon but the services sector remains the highest employer of labor though with about 65% of the Lebanese workforce working in this sector. Lebanon, with its official non-interventionist stance toward private investments, offers one of the most liberal investment climates in the Middle East.

The economic openness of the country is harnessed through the absence of legal restrictions on the entry or exit of firms, encouraging free market competition and furthering the development of the private sector. Liberal trade and investment policies have allowed foreign direct investments to account for a considerable share of Lebanese GDP.

She said, Lebanon has also one of the lowest taxation schemes and fiscal charges in the world, with only a 15% corporate tax rate.

 In addition to all the facilities that make Lebanon an interesting market to investors, There are wide range of sectors for investment in Lebanon from manufacturing, sales and marketing, ICT, Tourism, Financial Services, Agriculture, Agro-Industry, and Media.

In fact, many foreign companies have chosen Lebanon as the place to set up their businesses to cater to the region, such as; Microsoft, Packard Bell, Deutsche Post, Zurich Financial Services, and many more.

They cover a wide range of sectors from manufacturing, sales and marketing, ICT, Tourism. The Government of Lebanon, through the Investment Development Authority of Lebanon (IDAL), provides extensive support for investors interested to set up, maintain, or expand their activities in the country, the ambassador added.=DNA

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