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The Federation of UAE Chambers of Commerce and Industry signed a memorandum of understanding with the Federation of the Chambers of Commerce, Industry and Agriculture in Lebanon to establish the Joint UAE-Lebanon Business Council. Abdallah Sultan Al Owais, vice chairman of the UAE federation and chairman of the Sharjah Chamber of Commerce and Industry, signed the agreement with Mohamed Choucair, chairman of the Lebanese federation, on the sidelines of the business forum in Beirut. The deal revives a similar council first created in 2008 and provides an institutional framework for closer collaboration between the private sectors of both countries.
According to WAM, the council will facilitate the exchange of market intelligence and expertise while promoting trade and investment opportunities and supporting the creation of partnerships and joint ventures. It will also identify high-growth sectors and develop a pipeline of investment projects and commercial ventures between UAE and Lebanese companies. The announcement followed the conclusion of the UAE-Lebanon Business Forum, which drew senior government officials and business leaders from both sides.
Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi led an 80-member UAE delegation to the forum, which ended on Thursday and produced four additional memoranda of understanding covering several economic areas. Discussions centred on easing market entry, strengthening direct business connections and pinpointing opportunities in sectors such as logistics, agriculture, energy, aviation and tourism. Lebanese participants included Deputy Prime Minister Tarek Mitri along with ministers responsible for economy, public works, industry, agriculture and technology.
WAM data shows bilateral non-oil trade reached $4.2 billion in 2025, a 35.6 per cent increase from the previous year. The UAE served as Lebanon’s largest Arab direct investor between 2003 and 2016, with total investments amounting to $7.8 billion, according to records from the UAE Ministry of Foreign Affairs. These figures illustrate the historical depth of economic links that the new council seeks to expand.
Al Zeyoudi said the council reflects the readiness of businesses in both countries to move from dialogue to partnership. Business leaders who attended the forum told The National they hoped to secure first-mover advantage in Lebanon’s key growth areas. The council is expected to build stronger channels for investor engagement and commercial project development.
The latest steps follow the election of Lebanese President Joseph Aoun in January 2025, after which the UAE reopened its embassy in Beirut the same month. President Aoun visited Abu Dhabi in May 2025, where the two countries agreed to broaden economic cooperation and formally launch the business council. The UAE also lifted its travel restrictions for citizens visiting Lebanon as part of the diplomatic improvement.
The UAE’s non-oil foreign trade totalled AED 1.937 trillion in the first half of 2026, up 13.1 per cent year-on-year, according to Central Bank of the UAE figures. This growth forms part of the country’s target to reach AED 4 trillion in non-oil trade by 2031. The joint council aligns with these ambitions by creating structured mechanisms for sustained bilateral commercial expansion.
