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Lebanon Trade has gained an impetus after the end of the conflicts troubling the country. The trade of Lebanon flourished post independence, but the open market of Lebanon became an easy prey for its more powerful neighbor, Syria. The result was a series of conflicts with Syria. With the end of Syrian occupation of Lebanon, the trade sector is again on a path of progress.
The trade of Lebanon is helped and supported by a number of international organizations like World Trade Organization, United Nations Organization and Organization of the Islamic Conference. The membership of the League of Arab States has also helped the trade of Lebanon. The agreements of Lebanon with other countries like European Union, Turkey, African countries have accentuated the growth of Lebanon trade.
The chief export items of Lebanon trade are oils, livestock, agro-based products, textiles, manufactured products, etc. The export partners of Lebanon are Turkey, Italy, Germany, UAE, USA and others. The imported goods from other countries include electric items, chemicals, food products, energy, etc. The major suppliers of Lebanon trade are Germany, France, Syria, etc. The import exceeds the export of Lebanese trade.
In recent years Lebanon has revised all trade regulations and simplified the system. The rates of taxes are nominal and almost all goods are allowed to be exported. The license system of imports of Lebanon trade is however a little complicated. Three kinds of licenses are present, seasonal licenses, licenses required throughout the year and certain goods are not allowed to be imported. Some particular products need import licenses from the Ministry of Foreign Trade, Ministry of Industry, and other ministries. The Ministry of Foreign Trade, the Ministry of Industry and the Ministry of Agriculture are the authorities for gaining export licenses.
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