Trade show's comeback marks resilience of Lebanese economy amid crisis

Beirut, March 25 As visitors make their way through the crowded HORECA, a major trade show in Beirut that concludes on Thursday, they could hardly tell that Lebanon's food industry has been taking the hit of the country's unprecedented financial crisis.

After years of suspension due to the Covid-19, the three-day trade event came back this year to reconnect people in the food and agriculture sector, Joumana Dammous Salame, the founder of HORECA's sponsor hospitality services, told Xinhua news agency.

"It is a hub where people in the food and agriculture field can meet, exchange expertise and gain business opportunities while joining in various discussions in sideline panels," Salame said.

Chadi Tannous, Chief Product Officer at Three Brothers Distillery, said he wants to introduce his products to new clients from Lebanon and abroad, and the event allows him to meet with businessmen from Asia and Europe, Xinhua news agency reported.

"Although we have considerable sales in the Lebanese market, we are in need of US dollars to be able to maintain our operations," Tannous told Xinhua.

Lebanon has been suffering from an unprecedented financial crisis with a shortage of foreign currency reserves which has caused a collapse in the local currency, plunging over 78 per cent of the population into poverty.

Walid Abi Sleiman, Sales Manager at food factory Societe Michel Najjar, also attended the event to explore new opportunities in the local and overseas markets.

Abi Sleiman told Xinhua most business requests he received during the event were about exporting the Lebanese products, noting that the weak national currency has made the export of Lebanese products more competitive than selling them in the local market.

For his part, Jimmy Farhat, sales executive at MG Hotel Supplies, a factory producing hotel utensils and equipment, told Xinhua he is hopeful about the future of business in Lebanon, despite the numerous challenges and difficulties facing the country, which is why he is keen to take part in trade events such as HORECA.

"We will never give up on Lebanon," Farhat said, adding that hotels and restaurants prefer to buy locally produced goods to help Lebanese companies sustain their operations amid the current crisis.

He said his factory received requests from the hospitality industry in Syria, Saudi Arabia, Kuwait and Egypt.

This year's HORECA also features Lebanese aid groups and empowerment organisations that are helping the vulnerable.

Rene Moawad Foundation, with a focus on sustainable human development, has supported 1,300 Lebanese women in producing food for overseas markets.

"We participated after three years of absence to act as an intermediary between our beneficiaries and foreign importers which will enable us to expand the export market for these women," said Beauty Geitani, field coordinator at the foundation.

"We should never lose hope despite the current situation, this is why we are trying to support vulnerable communities at this time," she said.