Lebanese President Joseph Aoun emphasized the critical role of the Arab private sector in supporting Lebanon’s economic recovery during a meeting held on Tuesday in Beirut. Aoun highlighted the sector’s potential to open new markets for Lebanese products, attract investment, and drive job creation amid the country’s ongoing economic challenges.

The meeting, which took place at the Lebanese Presidency, included Secretary-General of the Union of Arab Chambers Dr. Khaled Hanafy and Arab League Deputy Representative in Beirut, Advisor Dr. Yousef Al-Sabaawi. Aoun underscored the significance of maintaining Arab economic institutions’ presence in Beirut, viewing it as a symbol of Lebanon’s longstanding ties with the Arab region.

“The headquarters of the Union of Arab Chambers must remain in Beirut to continue supporting the Arab economy,” Aoun said, praising the Union’s activities within Lebanon and its potential to help reestablish the country as an Arab economic and financial hub. He called for enhanced economic and trade cooperation with Arab nations, emphasizing the importance of the private sector’s involvement in economic recovery and reconstruction efforts.

Dr. Khaled Hanafy outlined the Union’s historical role as the institutional representative of the Arab private sector since its founding in Beirut in 1951. He described the Union as a coalition of Arab chambers and federations of commerce and industry prepared to engage with Lebanese businesses by promoting investment opportunities, organizing economic forums and delegations, and facilitating connections between Lebanese and Arab companies.

Hanafy noted that the Union is committed to attracting investors and capital to support Lebanon’s productive and development projects. He stressed the necessity of partnerships and investments to restore Lebanon’s economic capacity and generate employment. Restoring confidence in the Lebanese economy, he said, remains vital for revitalizing investment and economic activity.

Concluding the discussion, Hanafy emphasized that Lebanon’s stability and economic recovery are in the interests not only of the Lebanese people but also the broader Arab region. Greater integration of Lebanon into the Arab economic landscape, he added, would yield benefits for the regional economy as a whole.