Lebanon, Syria launch talks to reset trade ties, review Assad-era deals

Lebanon and Syria are initiating a review of their trade agreements to revitalize economic ties following the 2024 ouster of Syrian leader Bashar al-Assad. Lebanon's Economy Minister, Amer Bisat, stated on Thursday that talks with his Syrian counterpart in Damascus aim to reset the economic relationship, which he believes "has the potential of being the most important bilateral relationship for both countries." A committee established in early July will review over 40 Assad-era pacts covering investment, visas, and tax regimes. This review is expected to take several months, with a larger bilateral trade deal potentially taking longer to address issues like land transport logistics and non-uniform tariffs. Trade between the two countries, which once reached nearly $800 million, was approximately $250 million last year, a figure Bisat believes "should be measured in the billions."