Lebanon is an active member of the international community and remains on top of global agenda issues

Lebanon is an active member of the international community and remains on top of global agenda issues

A Sovereign Diplomacy That Ensures Peace and Stability

1.Five megatrends are shaping the 21st century global agenda: (1) Climate change, resource scarcity and the global environmental crisis; (2) Urbanization and the emergence of a municipal order; (3) Shift in global economic powers; (4) Demographic and social change towards an older and more numerous population; (5) New technological breakthroughs

2.One mega-shock has topped all issues: the coronavirus pandemic and its impacts on health, society and the economy

1.Number of policies integrating long-term scenario planning and horizon scanning

1.Missing a megatrend could marginalize Lebanon for a long period of time

2.Lack of implementation of international agreements

3.Judiciously riding a megatrend could bring rapid and positive change to Lebanon

1.Entangled in local and regional turmoil, Lebanon could miss important changes in the global agenda

2.Due to the absence of rule of law, political stability and budgetary rigor, Lebanon cannot incorporate its economy in the global arena

1.End of 2002: Lebanon signed on to the Greater Arab Free Trade Area (GAFTA)

2.April 2006: Lebanon's Euro-Mediterranean Partnership agreement came into force. The agreement enables reciprocal free trade on most industrial goods. It also liberalizes trade for many agricultural and processed agricultural goods

3.Lebanon was endorsed in early 2008 as a non-permanent member of the United Nations Security Council (UNSC) for the Asian seat by the Asian Group

4.April 2016: Lebanon signed the Paris Agreement at the UN Ceremony in NY

5.March 29th, 2019: Lebanon ratified the Climate Paris Agreement

6.April 2006: BDL Circular 104 to implement the Basel II Capital Adequacy Accord

7.30 September 2016: BDL Circular 436 for the increase of the minimum capital adequacy ratios to comply with the new capital requirements under Basel III

8.Law 318/2001: Fighting Money Laundering has led to the lifting of the name of Lebanon off the list of countries not cooperating with the FATF Financial Action Task Force. 

9.April 2009: Lebanon deposited the instrument of ratification of the United Nations Convention against Corruption (UNCAC) and the Convention entered into force on 22nd May 2009

Policy Action

1.Identify global trends and find ways to leverage them

2.Make Lebanon neutralize itself from all regional and international conflicts and pursue an active diplomacy that restores its leading role and breaks out its isolation

3.Have Lebanese businessmen and policymakers incorporate long-term planning in their decision-making process

4.Add tools like scenario planning, policy gaming and horizon scanning to the decision-making toolbox

5.Develop a national resilience strategy to ensure Lebanon is immune from global stresses and shocks

6.Integrate the World Trade Organization (WTO)

7.Encourage knowledge & digital economy