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I think that one could argue that the May 17, 1983 agreement was significant in a couple of ways. The first is that it underscores that there have been many attempts to bring peace to the entire region. This area has been the victim of domestic disturbances for so long that many treaties have been drafted to no avail in alleviating the struggle for peace in the region. At the same time, the agreement shows how important the region is for the United States. American political and economic interests in the region is reflected in how often the United States is involved in the affairs of the region. Attempting to broker some peace in the area helps to bring to light how important the region is for the United States on nearly all levels. At the same time, this role also helps to bring out how vested America is with both Israel and Lebanon, supporting both nations with hundreds of millions in foreign and military aid. The May 17 agreement brings out all of these elements into the discourse.
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