The Federation of Saudi Chambers announces the suspension of all commercial relations with Lebanon

Ajlan Al-Ajlan, head of the Federation of Saudi Chambers, revealed that all national companies have severed all their relations with Lebanese companies, in response to what he described as justification and blessing by the Lebanese government for terrorist acts against Saudi Arabia and its economic capabilities, according to the newspaper Asharq Al-Awsat.

Al-Ajlan said all Saudi companies It will not deal with any Lebanese company or any economic sector in Lebanon, as well as the Lebanese government, which justified the terrorist attacks with explosive planes on the Kingdom. And its people and its economic and social achievements, which is not acceptable to any government, including the Lebanese government, considering that this measure by Saudi businessmen and companies is the least that can be offered to support the government. of their country.

Al-Ajlan added that the swift move by Saudi companies to terminate trade relations has come in response to what was launched the day before yesterday, in a tweet on his personal account on “Twitter” to stop all commercial and economic relations with Lebanon, in response to persistence in targeting Saudi Arabia with drug trafficking and justifying terrorist acts, in all its forms to which the kingdom is exposed.

Regarding Saudi investors in Lebanon, Al-Ajlan stressed that the suspension of cooperation includes all economic, trade and investment levels, adding: “Because it is illogical for the Lebanese government to continue this use of encouraging terrorist acts and flooding the Saudi market with drugs, and that there is no movement Especially since the Saudi government has collaborated with the authorities concerned in Lebanon to stop these actions, in order to preserve the interests of the Lebanese people.

With the passage in course of Saudi companies that interact with the invitation launched by the president of the Federation of Saudi Chambers, the Lebanese economy will lose about 220 million dollars of the total value of exports to the countries of the world, which does not exceed 3 billion dollars, in As the Lebanese agricultural sector records the largest loss of approximately $ 92 million, and the industrial sector of approximately $ 97 million, Lebanese producers will face a problem in finding alternative export markets for Lebanese industries and agriculture, as these products do not meet the conditions of the European Union.

The Lebanese tourism sector had experienced a sharp collapse, and is the main driver in recent years of the Lebanese economy, which relies heavily on tourists from the Gulf, with the cessation of the flow of tourists from the Gulf countries in 2015 for security reasons. and Saudi tourists have exceeded the volume of spending in Lebanon by 16% of tourist spending in general.

In the context of the volume of aid provided by Saudi Arabia to Lebanon in the period between 1990 and 2015, compared to Iranian contributions to the country, an international report revealed that the volume of aid exceeded $ 70 billion, directly and indirectly. , including investments, aid, subsidies and gifts, soft loans and deposits in banks, while the Iranian contributions to the Lebanese government do not exceed 100 million dollars, parallel to the supply of 200 million dollars a year to Hezbollah.

The report indicates that Saudi investment in Lebanon between 2004 and 2015 amounted to about 6 billion dollars, in addition to 415.4 million dollars of Saudi exports in Lebanon in 2014. In addition to previous communications, the Kingdom transferred a financial deposit of $ 1 billion during the 2006 war.

Al-Ajlan also pointed out that Saudi Arabia has, for decades, provided generous support to the Lebanese government to advance its economy and its people, and it has not been absent. in no position to support Lebanon and its people. However, the Lebanese government has been excessive in its support for terrorist action and has taken nothing into account to preserve joint relations.

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