Lebanese Republic 
The Minister received the Chairman of the Syndicate of Traders and Importers of Alcoholics Beverages
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Minister of Economy and Trade Raed Khoury received the Chairman of the Syndicate of Traders and Importers of Alcoholics Beverages, Michel Abi Ramia; the Chairman of the Syndicate of Importers of Foodstuff, Consumers Products and Drinks, Hani Bohsali and a delegation of traders of imported foodstuffs, vegetables, fruits and drinks in addition to industrialists from different sectors and TSC creditors.
The delegation submitted a letter to the Minister stating the following: “the financial distress that the administration of TSC supermarket had witnessed, had adversely affected all authorities and departments dealing with this administration, whereof the value of the outstanding debt exceeded $ 19 million dollars that mainly inflicted the small and medium enterprises (SME’s) which already suffer huge losses and costs given the deteriorating economic situation that everyone suffers from; and the TSC crisis has just make it worse”. Moreover, the delegation pointed out to “ the necessity to organize the retail sector regarding the foreign capitals wishing, and who are welcomed of course, to access the market”, adding that “we knew that your Ministry previously received many studies seeking to organize the sector that comprises the geographic areas to be complied with when issuing the authorization to establish companies or trade centers; the maximum payment period in addition to other guarantees and legal controls considered as a road map to anyone who wishes to invest inside Lebanon or abroad, just as all the developed countries and our banks association do by imposing restrictions and guarantees to whom desire to establish a new bank in order to protect the depositors’ funds and organize the banks’ work; and consequently, prevent any downturns and shocks that may often inflict other sectors such as our sector, despite the safety-first policy that we always recommend”.
Bohsali
At the end of the meeting, the Chairman of the Syndicate of Importers of Foodstuff, Consumers Products and Drinks stated: “we thank Minister Khoury for receiving us and in view of the upcoming visit of the President of the Republic to Kuwait, we urge him to discuss our issue with the concerned parties in order to claim our rights. Furthermore, we encourage foreign investments in Lebanon; however, we recommend the Government to impose guarantees and incentives, to be considered as the legal framework that organize the retail sector in Lebanon, in general. In this regard, The Sultan Company declares its bankruptcy still, we are unable to seize its properties. This is a quiet trade issue between creditors and companies, however the Lebanese Government should impose certain guarantees and conditions to organize the retail sector in general. In brief, we are dealing with a big issue and the Minister showed his willingness to help us but the most important thing is to take things step-by-step.
Minister Khoury
In his turn, Minister Khoury declared: “I met the traders who provided me with a report about the damages they inflicted as a result of their problem with TSC which refrained from settling the traders, employees and some debtors’ entitlements. In this regard, some traders filed lawsuits and consequently we demand that justice may run its course”.
In addition, Minister Khoury stated the following: “As a Ministry of Economy and Trade, this question affects the interests of both the Lebanese traders and economists. We also promised the delegation to follow-up the issue with the Kuwait State and the concerned bodies. For this purpose, I already contacted the Kuwaiti Ambassador to Lebanon to get this straight; reveal the TSC budget and to find the adequate solution so each owner can claim back his right”.
At the end, Minister Khoury concluded by stressing on “the injustice inflicted on those traders and employees, especially that lot of rights are wasted. For this purpose, it is necessary to promptly solve this issue under the economic situation that traders incur. Moreover, we promised the members present to follow-up the issue on different levels and keep them informed of the responses as they become available”.
