Ministers of Economy and Industry aim at protecting the national economy amidst a deteriorating foreign trade balance

A meeting was held yesterday at the Ministry of Economy and Trade chaired by the Minister of Economy Dr. Alan Hakim and the Minister of Industry Dr. Hussien Hajj Hasan, and in the presence of the Association of Lebanese Industrialists and the Syndicate of Food Industries representatives to discuss means of protecting national production. Minister Hajj Hasan stated that the meeting reviewed issues of common interest between the two Ministries especially regarding the protection of the national industry and curtailing the foreign trade deficit, which could reach USD 17 billion by the end of this year. The Minister called on the Cabinet to take appropriate measures to protect national production and bring an end to the dumping of foreign goods.  Hajj Hasan also noted that after reviewing existing laws that many must be amended.  Hajj Hasan stressed that the two Ministries have already taken action in this regard. For his part, Minister Hakim emphasized the importance of collaboration between the two Ministries in the framework of a common action plan. A joint committee will work on developing this action plan in coordination with the Association of Industrialists. Finally, Minister Hakim underscored the resilience of the Lebanese economy “which still stands firm until today”.

Source: Al-Diyar, Al-Safir 7 August 2014