UAE gauges new Lebanon deals amid Levant economic stabilization push
Beirut welcomed a high-level business delegation from the UAE in late August as Abu Dhabi pursues new regional economic engagement amid Iran's waning influence.
Dozens of Emirati dealmakers touched down in Beirut for a high-level investment forum in late August, a win for a Lebanese government seeking to rebuild Gulf partnerships and secure funds for an economy crippled by war and financial crisis.
The delegation, led by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, offers the latest indication that a reset between the countries is progressing. For years, the United Arab Emirates was one of Lebanon’s key Arab economic partners before the relationship started deteriorating in 2005, fueled by Iran-backed Hezbollah’s growing influence in the Mediterranean country after the assassination of Prime Minister Rafic Hariri.
Now the Gulf state is back and engaging with Lebanon’s new Western-backed government under President Joseph Aoun. Since last year, the UAE has reopened its embassy in Beirut and lifted travel restrictions on Lebanon amid new outreach.
Yet Abu Dhabi has moved carefully, reflecting Lebanon’s risky investment environment and volatile security conditions. That caution was evident even as Zeyoudi arrived with 80 Emirati industry leaders and officials from sectors such as logistics, agriculture, energy and tourism.
