Ambassador Chevalier stressed France's keenness to boost cooperation with the Suez Canal Authority, given the canal’s importance as an essential link serving the global trade movement between East and West
This is because an increasing number of businesses experienced higher input costs due to a significant decline in freight volumes through the Suez Canal, which further aggravated foreign currency shortages
In addition to this, there has also been an increase in the costs of ship fuel and ship insurance costs, sometimes reaching 10 times the pre-crisis insurance value
The revenue generated by the canal holds vital significance for Egypt's economy, as it serves as one of the primary sources of foreign currency, which is currently in short supply
Rabie stressed the Authority’s keenness to open new horizons for joint cooperation in various fields, especially those related to training and green transformation, in light of the Authority’s intention to declare the Suez Canal the Green Canal by 2030
