VZCZCXRO3496
RR RUEHBC RUEHDE RUEHDH RUEHKUK RUEHROV
DE RUEHLB #1147/01 2921340
ZNR UUUUU ZZH
R 191340Z OCT 09
FM AMEMBASSY BEIRUT
TO RUEHC/SECSTATE WASHDC 5915
INFO RUEHEE/ARAB LEAGUE COLLECTIVE
RHEHAAA/NSC WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUCPDOC/USDOC WASHDC

UNCLAS SECTION 01 OF 02 BEIRUT 001147 
 
SIPDIS 
 
SENSITIVE 
 
E.O. 12958: N/A 
TAGS: ECON EFIN EINV PGOV SOCI LE
SUBJECT: LEBANON CALLS FOR INTER-ARAB COOPERATION ON INTELLECTUAL 
PROPERTY (ECONOMIC WEEK IN REVIEW, OCTOBER 12-18, 2009) 
 
CONTENTS 
-------- 
 
-- LEBANON CALLS FOR INTER-ARAB COOPERATION ON INTELLECTUAL 
PROPERTY 
-- GOL TO ISSUE EUROBONDS TO MEET FOREIGN FINANCING NEEDS FOR 2009 
-- IDAL EXPECTS 20% INCREASE IN FDI IN LEBANON IN 2009 
-- LEBANON SHOWS IMPROVEMENT IN HUMAN DEVELOPMENT RANKING 
 
 
LEBANON CALLS FOR INTER-ARAB 
COOPERATION ON INTELLECTUAL PROPERTY 
------------------------------------ 
 
¶1. (SBU) Lebanon hosted the Fifth Regional Coordination Meeting 
industrial property and copyright officers in Arab countries on 
October 12-14, in Beirut.  The workshop was organized by the World 
Intellectual Property Organization (WIPO) and the Arab League, in 
cooperation with the Lebanese ministries of economy and trade (MOET) 
and of culture.  This is the first time all the Arab countries have 
attended the workshop, MOET intellectual property (IP) officer 
Wissam Amil told us October 15. Participants endorsed MOET Minister 
Mohammad Safadi's proposal to create an IP website at the Arab 
League, as well as a trademark database for Arab countries. 
 
¶2. (SBU) Amil added that, for the first time, industrial property 
officers from seven Latin American countries attended the workshop. 
Discussions covered the exchange of expertise in IP education and 
awareness campaigns.  Amil believes these countries are seeking to 
strengthen their business relationships with Arab countries. 
 
¶3. (SBU) Amil told us that on the sidelines of the workshop, Safadi 
asked WIPO director general Francis Gurry for technical assistance 
to tackle IP protection in the pharmaceutical sector, specifically 
regarding trade secrets and undisclosed information.  Safadi also 
asked for technical assistance, in the form of training and 
equipment to upgrade the MOET's IP system, to implement the Madrid 
Protocol and Patent Cooperation Treaty, which Lebanon plans to join 
pending parliamentary approval.  Gurry expressed strong support for 
improving Lebanon's IP environment, Amil said, adding that a WIPO IP 
expert will begin the upgrade the MOET's IP system as early as next 
week. 
 
GOL TO ISSUE EUROBONDS TO MEET 
FOREIGN FINANCING NEEDS FOR 2009 
-------------------------------- 
 
¶4. (SBU) The GOL plans to tap the markets for approximately $500 
million to meet part of its foreign currency financing needs for 
2009, according to the head of economic unit at the Finance 
Ministry, Rola Azour.  This issue will replace a maturing Eurobond 
issue in the same amount, she said, noting that the GOL cannot 
borrow more from the markets without the passage of a new budget. 
Given high liquidity in the banking sector, Azour said the market 
should jump on the new issue, especially as interest rates continue 
to drop on the domestic and international markets.  Last week, 
Central Bank of Lebanon (CBL) Governor Riad Salameh noted that 
Lebanon will not have problems refinancing the public debt in 
2009-2010 thanks to high liquidity in the market. 
 
¶5. (SBU) Azour said the GOL needs $4.7 billion, $1.2 billion of that 
in foreign currencies, to meet its financing needs from September 
through December.  Azour said the GOL has excessive financing needs 
in Lebanese pounds (due to over-subscriptions from banks and 
depositors in treasury bills to absorb liquidity from the market) 
and will go to the CBL to exchange excess Lebanese pounds for 
dollars to meet the rest of its foreign financing needs. 
 
IDAL EXPECTS 20% INCREASE 
IN FDI IN 2009 
------------------------- 
 
¶6. (U) The Investment Development Authority of Lebanon (IDAL) 
projected foreign direct investment (FDI) in Lebanon to increase by 
20% in 2009, reaching $4.32 billion.  According to IDAL Chairman 
Nabil Itani, this is in line with the growth in banking deposits 
from July 2008 to July 2009, reflecting the strength and stability 
of the Lebanese economy.  Itani believes Lebanon's strong 
performance in 2009 has made it one of the most attractive 
investment destinations in the region.  In 2008, FDI in Lebanon rose 
by 32% to around $3.6 billion, according to the UN Conference on 
Trade and Development (UNCTAD). 
 
LEBANON SHOWS IMPROVEMENT 
IN HUMAN DEVELOPMENT RANKING 
---------------------------- 
 
 
BEIRUT 00001147  002 OF 002 
 
 
¶7. (U) Lebanon ranked 83 out of 182 countries worldwide and 9 among 
20 countries in the Middle East and North Africa region in the 
United Nations' 2009 report on human development.  Lebanon ranked 88 
worldwide and 10 in the region in the previous report. The survey 
uses a Human Development Index (HDI) to measure a country's 
achievements in terms of life expectancy, educational attainment, 
and adjusted real income.  Worldwide, Lebanon was considered to have 
a "high level" of human development compared to a "medium level" in 
the previous report. 
 
SISON