Lebanon Businessnews News

Alternatives sought for Syrian land routes
Industrialists sound alarm over exports
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The Association of Lebanese Industrialists (ALI) declared an economic emergency, due to the unstable security situation at the Jordan-Syrian Nasib border crossing. The latter is one of the main borders for local exports to the Arab countries.

The Islamic State in Iraq and Syria (ISIS) is banning the passing of shipments through the cross borders. This situation is preventing local factories from fulfilling their dues in the Arab and Gulf countries.

Fady Gemayel, Chairman of ALI, said that exporting through Iraq is too expensive and faces several difficulties. ALI called for finding alternatives to land export and for creating a new shipping route to the targeted Arab countries, which represent around 45 percent of the export markets.

Gemayel called for resorting to overseas transportation of goods. “We should bring all capacities together to maintain industrial exports, which is important for the Gross Domestic Product (GDP) and for creating job opportunities.”

ALI asked for the Cabinet’s aid to ensure the continuity of the transportation routes, as well as lowering the costs of transportation, in order to increase exports. It also called for finding solutions for the shipments that are trapped at the Nasib cross border.

“We should be finding solutions for transportation, especially since we are working to open new markets in Africa, Europe and Russia,” said Gemayel.
Reported by Rania Ghanem
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Date Posted: Apr 07, 2015