“We expect more progress and prosperity in the bilateral and economic relations between the two countries,” Qatar Chamber of Commerce and Industry director general Khalid Klefeekh al-Hajri told Gulf Times.

With Lebanon getting back on peace trail, al-Hajri said, more local, regional and international participation could be expected in its economic sectors.

Prime Minister HE Sheikh Hamad bin Jassim bin Jabor al-Thani brokered a deal as chairman of the Arab League mediation committee that saw former Army chief Michel Suleiman being elected as President of Lebanon.

On Qatar-Lebanon relations, al-Hajri said it had always been intact and it was one of the reasons why Doha took the initiative to mediate a peace deal there.

Bilateral trade between the two countries hung in surplus in favour of Lebanon during 2006. Qatar’s imports from Lebanon were valued at QR286.76mn, while exports were QR19.77mn, according to Qatar’s General Secretariat for Development Planning.

Another QCCI official said he expects Lebanon to return to its past glory of being Switzerland of the East as peace and stability could put its banking sector more into limelight.

Two Lebanese banks – Bank Audi and BLOM Bank – have been granted licences by the Qatar Financial Regulatory Authority. -Gulf Times