A high-ranking Lebanese business delegation is expected to visit the Gulf states on May 16 in a bid to ensure that strong economic ties with Lebanon remain intact.
The announcement was made by Chairman of the Lebanese Chamber of Commerce Mohammed Choucair, who also warned of grave consequences for the Lebanese economy if the verbal campaign against Saudi Arabia continues.
Choucair did not name the Lebanese agents behind this campaign explicitly, but was clearly hinting at Hezbollah, which has lashed out at the kingdom over Saudi-led airstrikes on Yemen.
The party has used antagonistic words to denounce the Saudi royal family, prompting many Lebanese politicians and newspapers to criticize its verbal campaign.
Choucair stressed that thousands of Lebanese will be at risk of losing their jobs if this campaign against Saudi Arabia does not come to an end soon.
“How can some target Lebanese-Saudi relations? They need to remember that Lebanon would have starved to death if it weren’t for Lebanese remittances from Saudi Arabia and the rest of the Gulf states,” he said.
Choucair estimated annual remittances at $8 billion, $4 billion of which comes from Saudi Arabia, $2.6 billion from the rest of the GCC states and $1.4 billion from the rest of the world.
The United Arab Emirates expelled dozens of Lebanese expatriates last month for security reasons. There are over 300,000 Lebanese working in the Gulf states and the money they send each year to Lebanon has shored up the Lebanese economy, increased bank deposits and revived the real estate sector.
But observers do not expect GCC states to expel most or all Lebanese expatriates despite the row between Hezbollah and Saudi Arabia.
Prime Minister Tammam Salam not only distanced himself from Hezbollah’s position but also fully backed Saudi Arabia.
Choucair emphasized that Saudi Arabia did not even suggest that it would penalize Lebanon or threaten to sever ties.
“Saudi Arabia would never make a decision just to harm the Lebanese economy. Neither Saudi Arabia nor the Gulf states have called for the deportation of Lebanese people, unless the individuals are wanted for security reasons, as in the case of those 200 recently deported,” he added.
Choucair said that the Gulf tour would include Qatar, Dubai, Abu Dhabi and Saudi Arabia.
He said the delegation would explore the possibility of establishing joint Lebanese and Gulf ventures, including joint investments in Africa.
Choucair also expressed willingness to conduct business with Iran once sanctions are fully lifted by the U.N. Security Council, noting that the Iranian market is very large and promising.
