Saudi Arabia has lifted its roughly five-year ban on imports from Lebanon, marking a significant step in the restoration of economic and trade relations between the two countries.
According to the Saudi Press Agency, Crown Prince Mohammed bin Salman ordered the resumption of Lebanese exports, citing what he described as positive progress by the Lebanese government in rebuilding state institutions.
President Joseph Aoun and Prime Minister Nawaf Salam welcomed the decision, saying it would help support Lebanese businesses, exporters and the wider economy.
Key developments:
- Saudi Arabia ended a ban first introduced in 2021 and later expanded to cover all Lebanese goods.
- The restrictions were linked to concerns over Captagon drug smuggling through commercial shipments.
- Lebanese exports to Saudi Arabia were valued at approximately $240 million in 2020.
- Riyadh has increased engagement with Beirut as Lebanon pursues economic reforms and efforts to strengthen state institutions.
The move is expected to provide relief for Lebanese producers and exporters as the country continues to address economic and security challenges.
ℹ️ Reuters
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