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Schneider visits Hariri: Big interest to invest in Lebanon

The President of the Council of Ministers Saad Hariri received today at the Grand Serail Luxembourg's Deputy Prime Minister and Minister of Economy and of Health Etienne Schneider, in the presence of former minister Ghattas Khoury.

After the meeting, Schneider said: "After meeting the President of the Republic and the Speaker of the Parliament, I had the honor and the pleasure to meet Prime Minister Hariri. The aim of my visit is actually to see how we can work closer together from an economic point of view. Our bilateral diplomatic relations are perfect but I see that there is room for improvement in economic cooperation. I told the Prime Minister that one big issue in order to push investment from Luxembourg to Lebanon is a non-double taxation agreement. We once negotiated one some twelve years ago but it has never been signed because there was an issue about the exchange of information, a topic which we had to respect at that time, but which Lebanon did not have to respect. But nowadays the situation is equal for both of us so we agreed on renegotiating this agreement in order to put this in place as soon as possible, which will allow our investors to do business here because there is a big interest in Lebanon and there are many opportunities.

Although the situation around Lebanon has always been difficult and will stay difficult for a long time, you are managing it in a very good way and I think there is a certain trust for investment. And if you have on one side the trust and on the other side the agreement on non-double taxation then I think I could really convince the business people from my country to do business and partnerships here.

We must know that Luxembourg has the second biggest fund industry in the world with 4.3 trillion Euros and they are always looking for new investments in countries like Lebanon."--PM Saad Hariri's Media Bureau

Source: National News Agency

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