Assistant U.S. Trade Representative for Europe and the Middle East Shaun Donnelly and Lebanon's Minister of Economy and Trade Sami Haddad have signed a Trade and Investment Framework Agreement (TIFA), which will provide a forum for expanding and strengthening bilateral trade and investment relations between the U.S. and Lebanon.
The U.S. uses TIFAs to strengthen bilateral trade and support economic reform through regular senior-level discussions on commercial and economic issues. The U.S.-Lebanon TIFA creates a Joint Council that will consider a wide range of commercial issues and sets out basic principles underlying the two nations' trade and investment relationship.
According to Meat Processing Global, U.S. exports of agricultural products to Lebanon were valued at $63 million, including course grains and tree nuts. U.S. imports from Lebanon in 2005 were valued at $92 million. U.S. imports of agricultural products from Lebanon in 2005 were valued at $17 million. The U.S. also has TIFAs with Algeria, Egypt, Kuwait, Qatar, Saudi Arabia, Tunisia, UAE, and Yemen.
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