ICCIMA Hosts 1st Iran-Lebanon Committee Meeting

EghtesadOnline: The First Iran-Lebanon Committee Meeting was held at Iran Chamber of Commerce, Industries, Mines and Agriculture in Tehran on Sunday.

News ID: ۷۸۴۳۹۶

12 December 2018

The gathering surveyed the Lebanese market's benefits and challenges.

ICCIMA’s international affairs deputy said in the meeting that Lebanon is important for Iran from geographical and cultural viewpoints. But, Iranian business people are not yet familiar with the Lebanese market and have not made good use of the opportunities it has to offer, Financial Tribune reported.

“Lebanon is a good market for us in fields such as services, energy, tourism, building construction and agriculture. We can also cooperate with our Lebanese partners in the reconstruction of Syria,” Mohammad Reza Karbasi was also quoted as saying by the news portal of ICCIMA.

Members of the committee noted that a 20% import tariff is imposed on Iranian commodities in Lebanon, which is not levied on Iran’s rivals in that market.

Other trade handicaps in Lebanon, highlighted in the committee, were transportation and banking problems.

“We are currently in talks with the Lebanese side to eliminate the tariffs set on Iranian goods and are hopeful that this will come about as soon as possible,” Mohammad Hossein Sajjadnejad, the representative of Trade Promotion Organization of Iran, said in the meeting.

Sajjadnejad noted that there is ample ground for Iranian businesspeople to be active in Lebanese trade and investment projects, adding that the country imports close to $20 billion worth of goods annually and exports about $3 billion in return.