The Beirut Traders Association - BTA, represented by its Chairman Mr. Nicolas Chammas, and Fransabank Group, represented by its Chairman H.E. Mr. Adnan Kassar, announced earlier today the launching of the first retail index in Lebanon, the “Beirut Traders Association – Fransabank Retail Index”. The launching was announced during a press conference held at the Conference Center of Fransabank Head Office, in the presence of the Minister of Tourism H.E. Mr. Fadi Abboud, the Minister of Economy and Trade H.E. Mr. Nicolas Nahas represented by Dr. Roger Melki and senior officials from the Central Administration of Statistics, as well as a large gathering of key figures from the business, economy and media worlds and representatives from both institutions.              

In his welcoming keynote speech, Fransabank Group’s Chairman Kassar welcomed attendees and applauded the valuable joint collaboration between both institutions, placed at the service of the Lebanese Economy. 

On this occasion, Kassar declared: “We are aiming through our partnership with Beirut Traders Association (BTA) at providing the Lebanese economy with a retail index that is indicative of the retail trade sector in Lebanon, that could be beneficial for the trade sector in general as well as its constituent Beirut traders in particular. This Retail Index is based on scientific research on the micro and macro economies, as well as sectorial studies, which were unfortunately unavailable to date in a comprehensive manner in the market, and practically inexistent in some sectors”. Kassar added; ““There is no doubt that our joint venture will support fill in the existing gap of non-sufficient economic indicators and research, thus contributing in improving the traders’ decision-making competencies, which will be based on thorough scientific studies.” He continued: “This will inevitably enhance traders’ competitiveness and add value to the national economy as well as the consumers.”

While supporting the Beirut Traders Association in strengthening its Research and Studies Center, which is considered a pillar center in the country, Kassar stressed on the importance of establishing the National Center for Studies. He elaborated: “We have been striving to establish this long-awaited center in order to entrust it with the task of providing the country’s business and investment society with crucial and accurate data and studies of the Lebanese Economy and all its sectors”. Kassar concluded his note with a commitment from Fransabank to support the BTA – Fransabank Retail Index with zeal and determination. “We have been serving the national economy for around a century, and we will continue to do so, pursuing our relentless efforts to establish the National Center for Studies”.

In his turn, BTA’s Chairman Mr. Nicolas Chammas commented on the decision of BTA to partner with Fransabank as: “We thought immediately of Fransabank as a strategic partner since this reputable institution has been catering for long decades for the Economy in general and the Trade Sector in particular: Its Chairman H.E. Adnan Kassar is also the Chairman of the Chamber of Commerce, not to mention the special relationship we share with him as being a pillar for BTA, for his support towards its achievements and milestones over the years”. Chammas explained: “The retail index will have an effective contribution in improving the trade and overall economic sectors in Lebanon”. He also elaborated: “The BTA – Fransabank Retail Index is the result of a joint partnership between two institutions that are also celebrating their 90 years anniversary with their new logos and colors. We are all confident that this Index will very quickly become the reference for the Lebanese trade sector. The Retail Index, which will be differentiated from other indicators through its methodology and communication, will be launched on a quarterly basis and will become a part of the local economic scene, along with other indicators that are issued by other official bodies”.