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Minister Abu Faour pledges to protect local goods from dumping
24-7-2019
The minister of industry, Wael Abu Faour, pledged to protect domestic products threatened with dumping. He stressed during a meeting on July 22 with a delegation of the Matn Industrialists Gathering, that the climate in the cabinet has become more favorable to bolster industry. There are several handy solutions to revive the sector, he said, revealing that Banque du Liban’s Governor, Riad Salameh, has instructed, during a meeting with him, in the presence of LIA head, Fady Gemayel, to prepare a new mechanism that supports interest on the operating capital of the industrial sector. “We have entered a new phase the results of which are positively reflected on the sector,” Abu Faour stated, underlining the importance of balance between the various segments constituting the national economy. The Minister also stressed the need to give productive sectors, primarily industry, the attention, backing and protection they need to persevere, advance and contribute more to growth. On protecting made-in-Lebanon products, Abu Faour mentioned 18 decrees and decisions to this effect, warning, any attempt of dumping or illicit competition shall be confronted. He made clear that the effects of the facilitative measures taken by his industry are reaping benefits through the launch of new factories, and the upsurge in exports compared to last year’s rates. (Al Diyar, An Nahar, July 23, 2019)
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