Lebanon-EU free trade accord signed

Date: 20/06/02

By David Cronin

A NEW accord aimed at lifting the restrictions to free trade between the EU and Lebanon was signed in Luxembourg on Monday (17 June).

But External Relations Commissioner Chris Patten has emphasised the association agreement is both political and economic in nature.

It provides for closer links on such issues as the fight against terrorism and organised crime, judicial cooperation and migration.

'In the deeply troubled situation in the Middle East, dialogue becomes a vital tool in reducing tensions and the spread of conflict,' said Patten.

'It is through dialogue that partners in this association can pursue the shared commitment to achieving peace in the region.'

The agreement envisages that all tariffs on industrial goods sold between the Union and Lebanon should be removed by 2014.

Exports from Lebanon to the EU were worth €156 million in 2000, while the country imported €3 billion worth of EU-made products during that year.

A new accord aimed at lifting the restrictions to free trade between the EU and Lebanon was signed in Luxembourg on 17 June 2002.