Beirut: Abdallah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), participated in the UAE-Lebanon Business Forum held in Beirut, Lebanon, as part of the UAE's official delegation. During the forum, he emphasized the importance of strengthening the UAE-Lebanon economic partnership by expanding business-to-business cooperation, boosting trade and investment flows, and unlocking new investment opportunities for the private sector.
According to Emirates News Agency, the UAE's business delegation included Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; Mohammad Ahmed Amin Al Awadi, Director-General of SCCI; and Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI. The forum brought together senior government and business leaders to advance bilateral trade and investment cooperation, identify high-potential sectors, and create new opportunities for partnerships between UAE and Lebanese companies and institutions.
On the sidelines of the forum, Al Owais, representing the Federation of UAE Chambers, signed a Memorandum of Understanding (MoU) with Mohamed Choucair, Chairman of the Federation of the Chambers of Commerce, Industry and Agriculture in Lebanon (FCCIAL), to establish the Joint UAE-Lebanon Business Council. The launch of the council marks a strategic step towards strengthening direct communication channels between the private sectors of the two countries. It will provide an institutional platform for exchanging market intelligence and expertise, promoting trade and investment opportunities, and facilitating the development of strategic partnerships and joint ventures.
The UAE-Lebanon Business Forum also witnessed the signing of four memoranda of understanding covering several key economic areas, highlighting the growing momentum in UAE-Lebanon economic relations. The agreements underscore both sides' commitment to translating cooperation opportunities into strategic partnerships and commercially viable projects that generate value for both the UAE and Lebanese economies. Discussions explored ways to facilitate market entry and business operations, promote two-way investment, and leverage the economic capabilities and competitive advantages of both countries to support greater private-sector cooperation.
Abdul Aziz Al Shamsi noted the strong participation of business leaders and investors in the forum reflects growing private-sector interest in exploring investment opportunities in Lebanon and leveraging the promising economic potential of its market. 'The establishment of the UAE-Lebanon Joint Business Council will provide a structured platform for strengthening engagement between investors and entrepreneurs and promoting available investment opportunities in both countries,' he added.
The signing of the memorandum establishing the UAE-Lebanon Joint Business Council by the Federation of UAE Chambers underscores the strategic role of chambers of commerce in advancing international economic relations, facilitating business-to-business connectivity, and creating institutional frameworks that help convert cooperation opportunities into strategic partnerships and sustainable joint initiatives. The council is expected to provide an effective institutional platform for identifying high-priority sectors, developing joint economic initiatives, and facilitating direct engagement between investors and entrepreneurs in both markets. By strengthening business connectivity and identifying commercially viable opportunities, the council can help expand bilateral trade and investment flows and support the development of joint ventures and projects that serve the economic interests of both countries.