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Lebanon’s Foreign Trade and Its Relation with Turkey

Located on the eastern shore of the Mediterranean Sea, Lebanon is an Arab and Middle East country.  Beirut, which is one of the most expensive cities in the Middle East, is the capital city of Lebanon. Lebanon, where 93% of the population is Arabian, shares many of the cultural characteristics of the Arab world and it has a homogeneous society. Arabic is Lebanon’s official and national language, although French and English languages are also used as a second language.

Relations between Turkey and Lebanon have been in the development stage since the early 2000s. “Bilateral investment treaty (BIT)" and "Agreement for the Avoidance of Double Taxation" were signed between Turkey and Lebanon in 2004.

On 24 November 2010, Lebanon and Turkey signed a Free Trade Agreement to increase bilateral trade and expand private sector cooperation. The recognization process by Turkey of the FTA signed between Turkey and Lebanon was completed on 11 March 2013. To implement the agreement, the domestic approval process on the Lebanese side is still expected to be completed. (Turkish Ministry of Foreign Affairs). 

The mutual trade volume between Lebanon and Turkey, which was at the level of $1 billion between 2011-2013, was in a downtrend due to regional and global political/financial/economic crisis and then reached back to the level of $1 billion in 2017.

 

Lebanon-Turkey Foreign Trade Figures ($1.000)

Turkey’s Export to Lebanon

Main Export Products ($1.000)

Iron/Steel Rods and Cake-Biscuits product group rank at the top in the list of Turkey's export to Lebanon. Turkey ranks in 6th place in the list of the import of Lebanon in 2017 and 2018. Turkey’s share in the total import of Lebanon in 2018 was 4.7 percent. It is also seen that the exports from Turkey to Lebanon were in an uptrend between 2015 and 2018.
 

Turkey’s Import from Lebanon:
Turkey mostly imports scrap iron and raw gold from Lebanon. 

Metals, primarily scrap iron, make up the majority of imports.

The top five countries from which Lebanon imports the most are China, Greece, Italy, the USA, and Germany. Turkey ranks in 6 amongst the countries from which Lebanon imports the most.

Source: Turkish Ministry of Trade, www.ticaret.gov.tr, Wikipedia

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