In the past two years, Lebanon’s economic progress has been noticeably erratic, to say the least: after posting promising import and export figures in 2005 ($10 billion and $2 billion, respectively), the heavy burden caused by the recent Israeli conflict and the ongoing political deadlock has been a deadweight on Lebanon’s upward trajectory. However, a promising sign emerged in February 2007, when—in spite of the political turmoil—the Ministry of Economy and Trade and USAID signed a Memorandum of Understanding (MOU), bringing Lebanon one step closer to World Trade Organization (WTO) accession. The MOU is not the first agreement of its kind for Lebanon. Free trade agreements have been signed by the Lebanese government with the EU, the EFTA States (Switzerland, Lichtenstein, Norway, Iceland) and the GCC; Lebanon is also a member of the GAFTA—the Greater Arab Free Trade Area. However, the country has yet to join the WTO. “The WTO
