The Syrian Government decided on Tuesday to lift the ban on the importation of Lebanese value added products that are subjected to customs duty in excess of 5 percent, SANA news agency reported.
On September 22 Syria imposed a ban on Lebanese exports of added value products that are subject to tariffs of over 5 percent , reportedly to prop up its currency reserves and help domestic industries.
The ban strikes a heavy blow against an already ailing Lebanese export market. The Lebanese exports to Syria “will be affected in a very big way,” Economist Ghazi Wazneh said last Sunday.
Around 14,000 items were affected by the ban, including cars, furniture, domestic appliances, clothes and some added value food ( processed ) products .
The processed foods industry in Lebanon was one of the most hurt sectors, according to Wazneh.
Syria is the only country with which Lebanon shares an open border, making it the only gateway to major trade partners in the region, namely Jordan , Iraq, Saudi Arabia and the Arabian Gulf states