NEWS
LEBANON BIDS TO BOOST GULF EXPORTS

Lebanons state-run development company has announced a program to help producers export goods to the Gulf by sea after the Syrian war closed vital land routes. The new Lebanese Exports Maritime Bridge program will subsidise Lebanese exports to Arab and Gulf countries for a period of seven months. Subsidies ranging between $1,750 and $2,250 per truck of produce moving from the Port of Beirut to either Aqaba in Jordan or Duba in Saudi Arabia are being offered to exporters. Lebanese exports have suffered significantly since the April closure of the Nassib border crossing, which was the last functioning gateway from Syria to Jordan. Agricultural exports dropped 35 percent while the total volume of land exports has fallen by 87 percent. In contrast, maritime exports are reported to have increased, with containerised imports and exports through Beirut up by around 10% since April.