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The World Bank and the Levant Business Union hosted the conference under the auspices of the Government of Lebanon. The conference, held in Beirut Lebanon on June 12, served as a platform to officially launch the World Bank’s regional economic integration report “Over the Horizon: A New Levant.”
This study identifies the areas of economic complementarities among a number of countries in the Levant assessing untapped potentials in investment and trade in goods and services. The report discusses that complementarities in the sub-region are significant, pointing at substantial potential welfare gains from increased trade and investments and economic integration.
The purpose of this regional conference is to discuss with public and private sector representatives the potentials for and barriers to deeper regional integration in goods and services trade with a focus on financial sector, energy, transport, tourism, and ICT. The participants are expected to contribute to discussions on following key questions: Where are the untapped potentials for regional integration, in which sectors? How Levant economies can benefit from economic complementarities and competitiveness? What are the behind the border barriers? What are the suggested policies/actions to remove these barriers in the short and long-term?
The conference aims at bringing together decision-makers and stakeholders to initiate a conversation that results in tangible milestones. Ministers of the Economy, Ministers of Finance, Governors of Central Banks, representatives of the private sector, and heads of diplomatic missions will be invited to this event. In addition, think tanks, academicians, research institutions, and members of the press will participate.
Review the Live Discussion on the Untapped Potential for Economic Integration in the Levant: http://live.worldbank.org/untapped-potential-economic-integration-levant