Home Economics & PolicyRound-about routes

Round-about routes

by Paul Cochrane

If the Syrian crisis escalates further and the border with Syria closes, Lebanon would be cut off from the rest of the region with the only way in and out being by sea or air. So far the border has remained open, but the Syrian conflict has already caused a significant drop in cross-border trade and a rise in maritime shipping. Last year, an average of 450 trucks crossed the border daily with goods destined for Syria, Turkey, Jordan, Iraq and the Gulf countries. But with the security situation deteriorating, exporters are increasingly reluctant to transport cargo by land. Insurance is up 3.5 percent to cover the risk, and companies are being held financially responsible for hired trailers. The deposit on a 20-foot  (6.1 meter) container is $4,500 to $5,000, and $7,500 for a 40-foot (12.2 meter) container. “It is a cash deposit for the empty container to cover all

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