British Embassy celebrates record UK-Lebanon trade figures
British Ambassador Hamish Cowell hosted a Business and Trade reception to celebrate record-breaking bilateral trade figures between the UK and Lebanon.
In 2023, bilateral trade figures between the UK and Lebanon passed the £1bn mark for the first time ever, reaching a record high of £1.1 billion, an increase on over 45% on 2022. Export brands increased to £160 million. The top five goods exported by the UK to Lebanon throughout 2023 were mechanical power generators, cars, beverages, dairy products, medicinal and pharmaceutical products. Services accounted for over £600m.
The reception was attended by the Minister of Public Health, Dr Firas Abiad and a wide range of Lebanese businesspeople and entrepreneurs investing in Lebanon and the UK. His Majesty’s Trade Commissioner for the Middle East and Pakistan at the UK Department for Business and Trade, Oliver Christian delivered a recorded video message to the guests.
During the reception, Ambassador Cowell said:
Given the many local and regional challenges, it is great to be able to celebrate these record-breaking figures which are testament to the strength of the UK/Lebanon partnership. They demonstrate the opportunities our businesses are finding in both countries. We are very keen to see more UK brands come to Lebanon. We are also supporting Lebanese investments in the UK across various sectors.
His Majesty’s Trade Commissioner Oliver Christian’s video message:
We’re here to celebrate the strength of our UK-Lebanon relationship, evidenced by our bilateral trade figures which reached a record high in 2023. This achievement is remarkable in and of itself, but even more so in the context of the challenges that face Lebanon today.
British brands are widening their footprint in the Lebanese market. Just last month The Entertainer Toy Shop opened its first branch in Lebanon. Baylis and Harding are now present in the market, and we expect more brands like E L and N café to follow later this summer.
We’ve seen great success on our investment side as well, with brilliant Lebanese brands like Swiss Butter, Meat the Fish and Nada Ghazal Jewellery now establishing in the UK.
I hope to visit soon to hear directly from you about the incredible country which has so much to offer.