Trade sector makes minor recovery

Chammas: slowdown in trade at 25 percent, improvement expected in H2 2011

August 11, 2011- The president of the Association of Beirut Traders, Nicolas Chammas, said that the trade sector made a slight improvement in July. He attributed the improvement to the formation of the government, and the accomplishment of appointments, namely the renewal of the Central Bank Governor's tenure.

Chammas estimated the slowdown in the trade sector since the beginning of the year at between 20 and 25 percent. He said that if political and security stability were maintained, the sector could make a remarkable recovery in the second half of 2011.

Chammas said that the emergent global financial crisis might be a good opportunity for attracting non-resident and Arab capitals into the country.