https://ahvalnews.com-Turkey has lifted a ban on importing scrap metal from Lebanon, Reuters reported on Sunday, citing the Lebanese trade minister’s remarks as quoted by Lebanon’s National News Agency.
Turkey’s policy paves the way for $100 million in “fresh dollars” for Lebanon, it cited Amin Salam saying.
The decision was made during a trip to Turkey by Lebanese delegation headed by Prime Minister Najib Mikati last week, the official said.
Turkish President Recep Tayyip Erdoğan and Lebanon’s Prime Minister Mikati on Tuesday discussed bilateral relations and development of cooperation opportunities between the countries during a meeting in Ankara, state-run Anadolu news agency reported.
During their meeting, the two leaders discussed ways in which Turkey could contribute to Lebanon, Anadolu cited Erdoğan as saying, noting that Turkey is ready to undertake infrastructure projects, including rebuilding the Port of Beirut.
Lebanon is experiencing an economic and financial crisis since 2019, which the World Bank has called “one of the most severe global crises” in over 150 years.
The crisis has triggered a shortage in products ranging from food to fuel and electricity. Money is also in short supply in the country, where local currency is experiencing inflation rates in the triple digits.
Following last week’s meeting with Mikati, Erdoğan said trade volume between Lebanon and Turkey had increased by 80 percent in 2021, to reach over $1.8 billion.
The Turkish leader said the countries hoped to further increase this number by way of enacting a free trade agreement signed in 2010.