This meeting comes within the framework of implementing the directives of President El Sisi to localize the transportation industry in Egypt, including heavy industries and shipbuilding and repair industries
The Minister of Transport, Kamel Al Wazir and Chairman of the Suez Canal Authority Osama Rabie, held a meeting to discuss ways to maximize, develop and localize the shipbuilding and repairing industry in Egypt.
This meeting comes within the framework of implementing the directives of President El Sisi to localize the transportation industry in Egypt, including heavy industries and shipbuilding and repair industries.
The Ministry of Transport is also working on developing the maritime transport sector and restore the strength of the Egyptian commercial fleet to make Egypt a global hub for trade and logistics.
The meeting also discussed ways to benefit from the volume of trade with Europe and East Africa by operating lines for Egyptian ships that pass through North Africa and then head to Europe and other lines to East Africa.
Just yesterday, Head of the Egyptian Commercial Service (ECS) Yahya Al-Wathiq Billah, said that Egypt aims to strengthen its trade relationship with Africa and boost intra-continent trade by 20% in the coming 5 years to reach $7.4 billion.
Egypt’s exports to African countries witnessed an increase of 13% during the period from January to October 2023, to reach $ 6 billion.
In addition to that, Egypt accounts for the largest share of the volume of intra-trade within the Common Market for Eastern and Southern Africa (COMESA). The volume of trade exchange between Egypt and the countries of the group reached its highest levels in 2022, reaching $4.3 billion, according to the trade minister’s previous statements.
