Lebanon hopes to form a free-trade arrangement with Japan to enhance economic ties and promote bilateral business exchanges, the visiting Lebanese economy and trade minister said Monday.
Basil Fuleihan said Lebanon, which is expected to sign a free-trade pact with the European Union by the end of this year, is completing trade pacts in the Arab world and is considering similar arrangements with Russia and some Eastern European countries.
"Lebanon is an intersection of a free-trade area in Europe and the Mediterranean as well as a free-trade area with the Arab world, which creates a very important potential for foreign investment as well as trade activities," he said.
On the other hand, Lebanon is actively implementing programs for deregulation and economic liberalization, including privatizing the telecommunications sector, the minister said.
Fuleihan is visiting Tokyo for meetings with senior government officials and to attend seminars promoting bilateral investment and business activities.