Lebanese, Saudi Finance ministers discuss convention on prevention of double taxation

Finance Minister, Ali Hassan Khalil, met his Saudi counterpart Mohammed Jadaan with talks touching on bilateral relations and issues of common concern, the NNA correspondent covering the Lebanese official delegation's KSA visit said on Tuesday. 

"My visit today (…) is important for the Kingdom and I look forward to further cooperation. We discussed economic and financial affairs, and means of developing relations," the Saudi minister said. 

Asked about future investment projects in Lebanon, Jadaan said "I believe that investment matters are to be discussed in details with the Minister of Commerce and the private sector, but in general the two governments will provide capabilities to the private sector with regard to investment." 

Asked whether or not double taxation will be eliminated, the minister replied "I spoke with His Excellency the Minister about trying to accelerate the convention process and, God willing, in the coming months negotiations will end and the convention will then be signed." 

For his part, minister Khalil said "I was very pleased today to meet with His Excellency the Minister, who has shown willingness to strengthen ties and re-launch a new spirit that reflects the historic and fraternal relations between Saudi Arabia and Lebanon. It was an important opportunity for both of us to share common interests, especially those related to the convention on the prevention of double taxation, and other issues that concern the two countries. What I felt was great willingness by the Saudis to support Lebanon as they did in the past, through all the stages. "

Source:NNA