The Arab Economic Summit, to be held in Beirut on January 19-20, is an important event that would strengthen political and economic relations between Lebanon and Arab countries, despite the political deadlock in forming a new government.
Politicians and experts have agreed that the Summit would help Lebanon attract the needed investments to revive its economy.
“The importance of the summit lies in the Arab presence in Beirut, which reflects the stability of the security situation in the country. It also represents an Arab, regional and international umbrella for Lebanon, despite the current political crisis,” said Minister of State for Planning Affairs in the caretaker government Michel Pharaon.
In remarks to Asharq Al-Awsat, Pharaon noted that the Lebanese “crisis, resulting from the political parties’ inability to form a new government, cannot be compared to other crises experienced by the region, and this means that Lebanon is still under the umbrella of Arab and international protection.”
The Lebanese State has completed its preparations to host the summit, and has sent invitations to all leaders of Arab countries except for the Syrian regime, which is still outside the Arab League system.
It is also preparing to present its economic vision for the coming years, based on the working paper submitted at the Cedar conference and adopted by the donor countries and institutions that have pledged to support the country, provided that reforms are launched in parallel with efforts to fight corruption and reduce the budget deficit.
Economic and Financial Expert Dr. Ghazi Wazneh told Asharq Al-Awsat that the convening of the Arab Economic Summit in Beirut “suggests the presence of Arab interest in this country, gives a strong dose of support to the Lebanese economy and will be a catalyst for changing the indicators that are economically and financially discouraging.”
He emphasized that the summit “is an important factor to strengthen economic and financial relations between Lebanon and the Arab countries, especially the Gulf, after the waning of these relations significantly in terms of trade exchange and the decline of tourism due to the political conditions.”
