Lebanon and the United Arab Emirates are seeking to turn a thaw in political relations into renewed economic and investment cooperation, as a major Emirati business delegation kicked off a two-day visit to Beirut focused on investment opportunities and potential partnerships across a range of sectors.

The visit, led by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, brought around 80 businessmen and investors to Lebanon and marked one of the clearest signs yet of improving economic ties between the two countries after years of strained relations.

Lebanese Prime Minister Nawaf Salam said the visit confirmed that Lebanon was regaining the confidence of its Arab partners.

During a phone call with UAE Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, Salam stressed the importance of the delegation's visit and the opportunities it offered to deepen cooperation and build partnerships between Lebanon and the UAE across various sectors.

The delegation held talks on investment and partnership opportunities involving both the Lebanese public and private sectors.

According to information reported by Lebanese broadcaster LBCI earlier this week, Emirati representatives are set to explore potential partnerships with the Lebanese government on several projects, including the management and development of customs systems at Beirut International Airport, seaports and border crossings, as well as oil facilities.

The Lebanese Economic Organizations, an umbrella group representing the country's private sector, hosted the delegation at the Beirut and Mount Lebanon Chamber of Commerce, Industry and Agriculture.

At the Lebanese-Emirati Economic Forum, Economy Minister Amer Bisat said Lebanon was going through one of the most difficult periods in its modern history, with the economy still burdened by the effects of successive crises.

“Lebanon’s productive capacity is far greater than what we are producing today. We have skilled human capital, and these assets have not disappeared because of the crisis. They can be transformed into exceptional opportunities,” Bisat said.

Turning Lebanon's potential into growth and prosperity, he said, required the country to uphold “a non-negotiable principle: the sovereignty of the state and the exclusive control of weapons by the state.”

Industry Minister Joe Issa El-Khoury described Lebanon's relationship with the UAE as “brotherly, historic and strong,” saying it had been built over generations by people who had invested their experience and skills in developing their countries.

“We do not forget those who stood by us,” El-Khoury said.

He praised the UAE for what he described as a rare success in reconnecting a new generation with the region and helping young people build their futures.

“Lebanon’s private sector is not asking for grants or aid. It is proposing one thing: invest in commercial opportunities and partnerships with us. Our young people are an opportunity worth investing in,” he said.

El-Khoury said Lebanon had also entered the field of technology manufacturing and was exporting data equipment and specialized industrial robots while competing with leading global companies.

“Our goal is to preserve the capabilities of our generation by bringing together Emirati capital and Lebanese expertise,” he said.

State Minister for Information Technology and Artificial Intelligence Kamal Shehadeh said the Lebanese government was making progress in asserting state sovereignty, advancing banking reform and enforcing the rule of law in an effort to turn the country's potential into sustainable projects and economic opportunities.

He thanked the UAE for standing by the Lebanese people, describing the relationship between the two countries as “an asset on which we can build.”

“Lebanon has the human capital, and our ambition is to open new markets for Lebanese companies while creating investment opportunities for Emirati companies by bringing together the strengths of both countries to compete in global markets,” Shehadeh said.

He said cooperation with the UAE could help develop the health, financial, legal, media and pharmaceutical sectors, as well as healthcare and digital infrastructure, through partnerships between Lebanese and Emirati private companies.

Mohammad Choucair, chairman of the Lebanese Economic Organizations and a former minister, said Lebanon was entering a promising period as reconstruction gets underway and the country works to modernize its infrastructure and economic and service facilities.

“There are many opportunities and projects that can be implemented through public-private partnerships and by leveraging Emirati capabilities,” Choucair said.

He welcomed the Emirati delegation's presence in Lebanon, saying its visit after years of crises demonstrated that the country was beginning to recover and regain the confidence of the Arab and international communities.

Choucair pointed to the establishment of the Lebanese-Emirati Business Council, the lifting of travel restrictions and the arrival of the Emirati delegation as signs of the strength of the “brotherly relations” between the two countries.

Abdullah Sultan Al Owais, vice chairman of the Federation of UAE Chambers of Commerce and Industry, said the two countries had an opportunity to significantly expand economic cooperation.

Trade relations between Lebanon and the UAE date back to the 1970s, he said, adding that there was a strong desire to increase bilateral trade and investment.

“There will be a significant increase in private-sector investment across various sectors, including industry, logistics, hotels and healthcare,” Al Owais said.

The visit came as both countries sought to rebuild economic ties after years of political tension linked in large part to the growing influence of Iran-backed Hezbollah in Lebanon.

The UAE and other Gulf countries had long been among Lebanon's most important Arab partners. Between 2003 and 2016, direct Emirati investment in Lebanon totaled about $7.8 billion, accounting for 64.8% of all Arab projects launched in the country during that period, according to UAE Foreign Ministry figures.

Abu Dhabi also provided hundreds of millions of dollars in financial support, loans and economic investments to Lebanon during the 1990s and early 2000s.

Relations deteriorated, however, as Hezbollah's influence expanded following the 2005 assassination of former Prime Minister Rafik Hariri, a close ally of Saudi Arabia and other Gulf states.

Tensions peaked in October 2021, when the UAE, Saudi Arabia, Bahrain and Kuwait recalled their ambassadors from Beirut and closed their embassies after then-Lebanese Information Minister George Kordahi, who was close to Hezbollah, criticized the Saudi-led military intervention in Yemen.

The UAE also expelled Lebanese nationals and detained others over alleged links to Hezbollah, which the Gulf Cooperation Council designated a terrorist organization in 2016.