The Arab Economic Summit,
19-20 January 2009,
State of Kuwait

Lebanese Republic


Head of state Michel Suleiman is the current President of Lebanon.

Geography

It is a country in Western Asia, on the eastern shore of the Mediterranean Sea , bordered by Syria to the north and east, and Palestine to the south. It is close to Cyprus through the Mediterranean Sea.

Most of Lebanon's area is mountainous terrain, except for the narrow coastline and the Beqaa Valley, which plays an integral role in Lebanon's agriculture. Total area of 10,452 km2 , Beirut is the capital of the country.

In ancient times, Lebanon housed large forests of the Cedars of Lebanon, which now serve as the country's national emblem.

Climate

Lebanon has a moderate Mediterranean climate. In coastal areas, winters are generally cool and rainy whilst summers are hot and humid. In more elevated areas, temperatures usually drop below freezing during the winter with frequent, sometimes heavy snow; summers are warm and dry.

Currency The Lebanese pound is the currency unit of Lebanon. It is divided into 100 qirsh .

Economy

Although Lebanon is ideally suited for agricultural activities in terms of water availability and soil fertility, agriculture is the least popular economic sector in Lebanon. Major products include apples, peaches, oranges, and lemons.

Industry in Lebanon is mainly limited to small businesses concerned with reassembling and packaging imported parts.

A combination of beautiful climate, many historic landmarks and World Heritage Sites continues to attract large numbers of tourists to Lebanon annually, in spite of its political instability. In addition, Lebanon's strict financial secrecy and capitalist have given it significant economic status among Arab countries.

The at-times thriving tourism and banking activities have naturally made the services sector the most important pillar of the Lebanese economy.

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