LEBANON

Lebanon, an Independent Sovereign Republic, is a member of the United Nations and the League of Arab States. A Constitutional Democratic and Parliamentarian Republic. Lebanon is classified as a Developing country by the World Bank.

Lebanon, situated by the eastern coast of the Mediterranean Sea, The Republic of Lebanon extends 250kms on the coast with average width of 50kms, bordered by Syria on all sides except the South.

Banking: one of the major aspects that chacterizes the banking system in Lebanon is the law of "Banking Secrecy" issued on 3rd September 1956. Furthermore Lebanon being a totally free currency area and the Lebanese pound being fully convertible, purchases may be paid for through banks in any international currency.

Economic Policy: Free market economic is a distinguishing hallmark of Lebanon's socio -economic system. Except for few protected items, which are produced locally. importation is open and no import license is required.

Marketing: Lebanon is a sophisticated and a competitive market due to its proximity to West Europe and the consequent advantages in the matter of freight, delivery schedules, quality of goods etc.
The important factors for expanding to the Lebanese \1larket are quality of goods, competitive prices and attractive terms of supply & credit.

Trading prospects: Trading is Lebanon's main economic activity.
It is centrally located for financial and economic activities through out the region. Lebanon has close trading links with West Africa and South American countries through the large number.
of Lebanese residents in those regions. It also serve as a distribution center for the Arab and Mediterranean areas with highly developed third country trading network. There is a steadily expanding inflow of foreign business commercial visitors and trade delegations to Lebanon.

Area: 10,452 sq. km.

Population: 4.3 million (2001)
Capital: Beirut
Main Cities: Tripoli, Saida, Tyre, Byblos, Jounieh, Baalbeck, Zahle, Chtoura
Airport: Beirut International Airport
Ports: Beirut (principle), Tripoli, Saida & Jounieh
Official Language: Arabic (French, English widely spoken): 16,781 (2001)
GDP (US$ million)
Currency: Lebanese Pound (LL), called Lira
Exchange rate (average) : US$ l=LL. 1508
Foreign Trade (2001)
Imports: US$ 7,291 million
Imports from main trade: Italy (9.7%), Germany (8.5%),
Partners France (8.4%), USA (7.1%) Switzerland (4.6%)
Main Imports: Mineral Products (18.4%), Electrical equip. (13.7%), Vehicles (9.8%), Chemical products (6.9%), Textile (6.4%):
Exports US$ 889 millions
Export to main trade Saudi Arabia (9.6%), UAE (8.2%)
Partners: US (6.8%), France (4.3%), Syria (3.9%):
Main Exports Jewelry (15.9%), Elect. Equip. (12.8%) Food Prod. (11.3%), Chem. Prod. (9.9%) Textile (8.7%), Metals (7.3%)
Volume of trade with
INDIA (2001): US% 78.780 million:
Imports from India US$ 64.550 million:
Exports to India US$ 14.230 million