On Friday May 20th, 2011, took part in the signing ceremony in Paris for the inception of FARO Lebanon and the Faro Club, and to establish linkages between FARO France and its Lebanese counterpart. This French-Lebanese agreement will set the scene for a regional cooperation to support innovation.

The Lebanese delegation comprised key economic figures, from the public and private sectors, including the Director of the Ministry of Finance, the Director of the Ministry of Economy, the President of the Chamber of Commerce alongside others, as well as Mr. Maroun N. Chammas, the Chairman and CEO of Berytech. French counterparts included high-level executives from l’Union pour la Mediterrannée (UPM), l’Agence Française pour le Développement (AFD), OSEO, the French Chamber of Commerce, etc.

FARO Lebanon is spearheaded by the Chamber of Commerce of Beirut and Mount Lebanon, and comprises established institutions such as Kafalat and Berytech. It will be chaired by Mr. Mohammad Choucair, President of the Lebanese Federation of Chambers of Commerce.

Faro, the seed capital, development and orientation fund was launched on 27 may 2010 in the context of the Union for the Mediterranean (UPM) to boost the development of innovation on both sides of the Mediterranean.