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French Version


Lebanese exports up 53 percent (Daily Star)

Lebanese exports have increased by 53 percent in the first five months of the year, amounting to $581 million compared to $378 million during the same period last year.

Mohammed Rifai, head of the Exports' Council at Beirut Merchants Association cited several factors for the increase.

"The industrial sector has profited from the international programs carried out last year in collaboration with the European Union and UNRWA and has also secured the necessary funds to build new factories," Rifai said. He added that the huge investments pumped by industrialists in this sector over the last few years to develop and renovate factories, as well industrialists' conviction in the culture of exports and in following a strategy to target foreign markets, were behind the increase.

Rifai said a rise in Lebanese production costs had hurt exports. Rifai also stressed the importance of not securing operating capital to factories, exempting exports from income taxes, servicing the debt to the industrial sector and reduction in electricity bills are considered important factors toward the increase in export.

Rifai also expected a continuous increase in industrial exports, referring to the industrialists' awareness in this respect, especially that factories are competing against each other to get ISO certifications.

Beirut 30-08-2004
Redaction
The Daily Star



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