Lebanese President Joseph Aoun’s visit to Saudi Arabia marks his first official trip abroad since taking office, aiming to strengthen ties and revitalize hopes for Lebanon’s economic recovery amidst ongoing crises. The discussions led to 22 agreements focusing on various sectors, but immediate relief is unlikely without critical reforms and the restoration of investor confidence. The success of this initiative hinges on overcoming internal political challenges.
Lebanese President Joseph Aoun’s inaugural foreign visit to Saudi Arabia has rekindled hopes for Lebanon’s economic recovery and political stability amidst ongoing financial difficulties. This meeting marks a significant effort to strengthen ties with Saudi Arabia, an essential regional ally, with the aim of securing crucial investments and diplomatic backing. Both nations have displayed a commitment to cooperation and reform, positioning this visit as a pivotal moment for Lebanon’s long-awaited revival.
The Lebanese Executives Council, an organization dedicated to enhancing professional ties between Lebanon and other countries, commended this visit as a critical advancement in Lebanon-Saudi relations. Rabih El-Amine, chairman of the council, highlighted, “This visit stands out as exceptional. Lebanon has a remarkable opportunity to reshape its relations with Arab nations, with Saudi Arabia as the essential gateway.” He insisted that Saudi Arabia’s considerable regional influence and economic initiatives under Vision 2030 represent a significant turning point for Lebanon’s future.
During President Aoun’s visit, the two nations deliberated on 22 agreements covering various domains such as trade, agriculture, and finance, among others. El-Amine emphasized, “These agreements include cooperation in exhibitions, intellectual property, consumer protection, banking, and combating terrorism.” While Saudi financial institutions might assist in stabilizing Lebanon’s economy, the success of this support hinges upon Lebanon’s ability to carry out necessary reforms.
Though the visit has sparked optimism, El-Amine cautioned against expecting immediate economic relief. He articulated, “This visit will likely be a strategic step toward rebuilding Saudi-Lebanese ties rather than yielding immediate economic relief.” He noted that Lebanon’s path to recovery is contingent upon comprehensive reforms, negotiations with the International Monetary Fund, and regaining investor trust, all requiring sustained engagement instead of rapid diplomatic resolutions.
Addressing Lebanon’s political and security framework is also crucial, with a joint statement underscoring the need for the Lebanese state to control arms and affirm the military’s role in promoting stability. Despite the progress from the visit, internal political challenges pose significant risks to advancement. El-Amine remarked, “The primary concern is whether Lebanon’s political and economic system can genuinely carry out the reforms and commitments necessary to convert diplomatic goodwill into tangible progress.”
Overall, while Aoun’s visit reaffirmed the longstanding relationship between Beirut and Riyadh, it simultaneously spotlighted the urgent reforms needed in Lebanon’s governance. Following this event, President Aoun and his team proceeded to Cairo for an extraordinary Arab summit, emphasizing the heightened expectations surrounding his presidency amid Lebanon’s pressing economic crisis and the implications of the recent Hezbollah-Israel conflict that has left the country in disarray.
In summary, President Aoun’s visit to Saudi Arabia is viewed as a hopeful step toward economic recovery for Lebanon amidst a dire financial situation. The discussions surrounding numerous agreements highlight the potential for improved cooperation. However, substantial reforms are necessary, and challenges within Lebanon’s political system could impede progress. The continuation and success of Saudi support will largely depend on Lebanon’s commitment to enacting credible reforms.
Original Source: www.arabnews.com
