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Saudi Arabia, UK Discuss Strengthening Trade and Industrial Cooperation

Alkhorayef and Huddleston discussed ways to boost the partnership between Saudi Arabia and the UK in several economic sectors, particularly industry and mining. SPA
Alkhorayef and Huddleston discussed ways to boost the partnership between Saudi Arabia and the UK in several economic sectors, particularly industry and mining. SPA
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Saudi Arabia, UK Discuss Strengthening Trade and Industrial Cooperation

Alkhorayef and Huddleston discussed ways to boost the partnership between Saudi Arabia and the UK in several economic sectors, particularly industry and mining. SPA
Alkhorayef and Huddleston discussed ways to boost the partnership between Saudi Arabia and the UK in several economic sectors, particularly industry and mining. SPA

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef has held talks with UK’s Minister of State for International Trade Nigel Huddleston on the sidelines of the meeting of the GCC Ministers of Trade and Industry in Salalah, Oman.

During the meeting, Alkhorayef and Huddleston discussed topics of mutual concern and ways to boost the partnership between the two countries in several economic sectors, particularly industry and mining.

The meeting also focused on enhancing cooperation between the two countries in the industrial and mining sectors, reviewing promising industrial and mining investment opportunities, and exploring the possibility of increasing trade and developing non-oil exports.

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Presidential Election: A Crucial First Step toward Saving Lebanon from Economic Crisis

The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
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Presidential Election: A Crucial First Step toward Saving Lebanon from Economic Crisis

The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)
The vacant presidential seat at Baabda Palace after President Michel Aoun's term ended (Reuters)

Since 2019, Lebanon has faced one of its worst economic crises in modern history, affecting all aspects of life. The local currency has lost over 95% of its value, driving inflation to record levels and making goods and services unaffordable. Poverty and unemployment have surged.
Amid this, political divisions have paralyzed government action, preventing any effective response to the crisis.
The recent war with Israel added to the burden, causing huge human and material losses estimated by the World Bank at $8.5 billion. This has made Lebanon’s economic and social struggles even harder to resolve, with no president in place to lead the country.
The presidential post in Lebanon has been vacant since President Michel Aoun's term ended in October 2022, leaving the country without a leader to address growing economic and financial issues.
This vacancy has stalled government formation, making it difficult for Lebanon to negotiate with international donors like the International Monetary Fund (IMF), which demands major reforms in exchange for aid.
Choosing a new president is now a critical priority, not only to regain local and international confidence but also to begin the long-needed reforms.
One major challenge the new president will face is the reconstruction effort, which is estimated to cost over $6 billion. This is a huge financial burden that will require significant resources and effort to secure funding.
Reconstruction in Lebanon is not just about fixing infrastructure or repairing damage; it is a key test of the country’s ability to restore its role on the regional and international arena.
To achieve this, Lebanon needs a president with a clear vision and strong international connections, able to engage effectively with donor countries and major financial institutions.
Without credible and unified political leadership, Lebanon’s chances of gaining external support will remain limited, especially as international trust has been shaken by years of mismanagement and lack of reforms.
Keeping Lebanon’s deepening crises in mind, the people are hoping that electing a new president will offer a chance for economic and political recovery.
The new president, along with a strong government, is expected to rebuild trust both locally and internationally and restore political stability—key factors for stopping the economic decline and encouraging growth.
For instance, reviving Lebanon’s vital tourism sector will require better security and restoring confidence in the country as a safe place for investment.
This can only happen with political leadership that has a clear plan for reconstruction and necessary reforms.
Given Lebanon’s ongoing financial struggles, the new president’s ability to address these challenges will be critical to rescuing the country and guiding the economy toward recovery and sustainable growth.