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| | The EU's relations with Lebanon - Overview |
 | | Lebanon is a predominantly importing country characterized by substantial trade deficits, which are largely offset by net foreign income earnings, including capital inflows, remittances from the Lebanese diaspora and service earnings, namely tourism, banking and insurance. |
 | | Lebanon submitted to the WTO Secretariat a foreign trade memorandum in May 2001, accompanied by a series of internal regulatory reform measures, such as the new customs law, in force since April 2001, which reduces tariff rates and establishes automated customs release procedures. |
 | | Lebanon was urged to go further with its economic reforms, and to engage with the IMF, which is also a condition for EU macro-financial assistance. |
| ec.europa.eu /comm/external_relations/lebanon/intro (5115 words) |
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