|As a country with few natural
resources, Lebanon has the chance to have a population and an economy firmly oriented
towards the services’ sector which employs 40% of the total active population,
representing almost the double employment rates of the commercial sector, the
second largest source of employment in the country.
Strong traditional services are characteristic of this sector. The leading field
is banking service that boasts a very precise legislation. The full range of banking
services is available in establishments that succeeded in drawing foreign capital.
Trading services are also very important, Lebanese companies boast exclusive rights
of distribution from international brands that usually expand from national to
regional rights. This is quite understandable: Lebanese expatriates working in
the region often hold posts of great responsibility, facilitating the expansion
on new markets for Lebanese exclusive agents.
The quality of higher education is also extremely important in a service -oriented
economy, and the education policy has succeeded in its task to provide companies
with effective young executives and well trained professionals.
||In 2002 Lebanon signed the Euromed
agreement that aimed at creating a free trade zone between all the countries bordering
the Mediterranean Sea and the European Union.
This is expected to open a market of over 300 million consumers to Lebanese companies.
Although it is a hazardous commitment for some economic sectors, it represents
tremendous opportunity for the service sector in Lebanon.