Industry activity at stake

Association of Lebanese Industrialists preparing for a gathering for exporters

July 5, 2011- The industrial sector is undergoing major domestic and regional challenges, Head of the Council for Industrial Exports’ Development, Khaled Farshoukh, said Monday (July 4).

Aside from the direct effect of the unrest in Syria on the export activity, the sales of many industrial sectors have dropped between 15 and 20 percent, he said.

According to Farshoukh, exports of the industrial sector have maintained an acceptable rate this year due to deals signed in previous months. However, he said, if the appropriate measures were not taken now, the exports could see a steep drop.

The industrial sector also suffers structural setbacks represented in the high production cost resulting from the increase in prices of oil and transportation.

The Association of Industrialists is preparing for a gathering for exporters in order to set recommendations that would help ease the slowdown in the sector’s growth.