News Analysis: Upcoming Arab summit in Beirut to have positive impact on Lebanon: analysts

Source: Xinhua| 2019-01-15 23:49:20|Editor: yan
Video PlayerClose

by Dana Halawi

BEIRUT, Jan. 15 (Xinhua) -- Lebanese analysts are mostly optimistic about the outcome of the Arab Economic and Social Development Summit due to be held in Beirut later this week.

"This summit comes at a timely manner because when a country like Lebanon is facing an economic crisis, it needs a safety net and diplomacy to support its efforts to get out of the crisis," Sami Nader, director of Levant Institute for Strategic Affairs in Lebanon, told Xinhua.

Nader said that Lebanon must integrate with the international community to be able to overcome the various threats it is facing, especially on the Israeli front.

"This summit is an opportunity to do so," he added.

Lebanese economist Ghazi Wazne said that the summit will strengthen Lebanon's economic and financial ties with the Arab world, especially after the slowdown in Lebanon's trade with Arab countries.

"Holding the summit in Lebanon reflects that there is Arab interest in this country," he said.

The Lebanese government also hopes to take advantage of the summit to send out a message that the country is safe and stable for foreign investors, despite the stalemate in forming a government since the parliamentary elections in May 2018.

Caretaker Minister of State for Planning Michel Pharaon said that holding the summit in Lebanon and the participation of Arab countries will imply that Lebanon's security situation is stable.

"The success of this summit is in the interest of Lebanon because it also creates an atmosphere of economic stability in the country," Pharaon said.

Caretaker Economy Minister Raed Khoury also said that the timing of the summit is important because Lebanon needs to build its image as a country capable of attracting investments.

"Also, Lebanon needs to play a role of being a platform for rebuilding Syria. This summit will help Lebanon to reach its goal," he said.

Nassib Ghobril, chief economist at Byblos Bank, said that holding the summit in Lebanon will imply that the country is capable of organizing such big events at a high caliber.

"Other nearby countries have been capable of benefitting from this opportunity. Now it is time for Lebanon to return to the map of countries that are successful to organize big summits and events," he said.

However, Lebanese political analyst Rafic Nasrallah does not seem to be upbeat about the outcome of this summit.

"I believe this will be a protocol summit only and no effective results will come out," he told Xinhua.

Nasrallah noted that the recommendations which were issued during previous Arab summits were not implemented.

Nasrallah cited the 3-billion-U.S. dollar military aid that was supposed to be unlocked by Saudi Arabia to Lebanon a couple of years ago.

"Saudi Arabia did not deliver this aid to Lebanon because of its concerns over Hezbollah's activities in the country and the region," he said.

Hezbollah is backed by Iran, Saudi Arabia's top rival in the region.

On the absence of Syria from the summit, Lebanese analysts interviewed by Xinhua held different opinions about its impact.

Syria is not able to take part in the summit because the Arab League (AL) passed a decree on Nov. 12, 2011 to suspend Syria's membership.

The AL said it froze Syria's membership because its government failed to stop violence against civilian protesters back in 2011.

Nasrallah believes that the impact of Syria's absence from the summit is very negative.

"Lebanon will benefit the most if Syria takes part in the summit," he said, adding that Syria is Lebanon's gateway to the rest of the Arab World.

"Syria will have big projects when it starts with its rebuilding plan, which can be a great benefit to Lebanon," he said.

Nasrallah said that Lebanon should have invited Syria to the summit even if the AL has frozen its membership.

"Lebanon could have taken an initiative to invite Syria," he said.

Nasrallah added that Lebanon should have refused to host this summit in the first place to avoid any negative impact on its ties with Syria.

Meanwhile, Nader believes that while Lebanon has an interest in normalizing its ties with Syria, it is more interested in forging a decent relationship with the Arab League.

He said that Lebanon cannot take the decision by itself to normalize its ties with Syria ahead of the AL. "This decision should come from the Arab League," he said.

Nader said that Syria did not send any signal that it wants to normalize its ties with Lebanon.

"How can we normalize ties with a country that has placed our prime minister and other key Lebanese leaders on the terrorist list?" he asked.

The Combating Money Laundering and Terrorism Financing Commission in Syria placed late last year Lebanon's Prime Minister-designate Saad Hariri and other key political figures on its list for allegedly wanting to topple Syrian President Bashar Assad's regime.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105521377463861