Roundup: Lebanese businessmen eager to expand post-pandemic cooperation with China

0 Comment(s)Print E-mail Xinhua, June 24, 2020
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by Dana Halawi

BEIRUT, June 23 (Xinhua) -- Lebanese businessmen are looking forward to strengthening cooperation with China following China's success in fighting the COVID-19 pandemic.

"COVID-19 has had a negative impact on the world economy ... this should constitute a motivation to improve business ties between Lebanon and China," Ali El Abdallah, president of the Lebanese Chinese Business Association and owner of Amaco Group, a factory specialized in tissue paper production, told Xinhua in an interview.

Jamal Joune, owner of the Lebanese company for trade and services, said that Chinese factories and businesses are considered the best trading partners for Lebanon given the great quality of products manufactured in China.

"Products manufactured by China can easily compete with worldwide products," Joune told Xinhua.

Joune, who sells electric products imported from China, said he has great confidence working with the East Asian country which has the capacity to solve any issue with regard to imports delays due to COVID-19 outbreak.

"We faced some delays in shipments due to COVID-19 but China has a great capacity to solve any issue," Joune said.

Joune, who has been doing business with China for 20 years, said that he is facing problems in the local market due to the dollar crisis and the inability to transfer money from Lebanon to foreign countries for imports.

Lebanon has been facing a shortage of U.S. dollars, prompting banks to put restrictions on withdrawal of U.S. dollars and transfers to foreign countries.

Abdallah said that Lebanese traders and industrialists are facing tremendous challenges due to restrictions in the Lebanese market.

He hoped that China would provide some help to deal with the difficulties faced by Lebanese businessmen.

"We are looking forward to any support from China for us to increase our cooperation with the East Asian country," he said.

China and Lebanon have been long trading partners. According to the Lebanese customs' statistics, China is Lebanon's largest source of imports.

Lebanon's top imports from China include electrical machinery and equipment, plastics, furniture and vehicles, while Lebanon's exports to China mainly include copper, plastics, beverages and cocoa.

China has been supporting Lebanon in various fields, including sending peacekeeping soldiers to the UN Interim Force in Lebanon, offering various donations for the fight against COVID-19, and building a conservatory in Dbayeh, Lebanon. Enditem

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