Minister of Trade and Industry Nevine Gamea said the government is keen on maximizing the benefit from the economic value of the Suez Canal at the regional and international levels to strengthen Egypt’s position as a global trade and logistics hub.

Gamea made the remarks during her participation Sunday in a symposium organized by the Suez Canal Authority (SCA) under the rubric: “Suez Canal and Global Trade Challenges”.

She added the Suez Canal acts as a link between production centers in the Far East and distribution and consumption centers in the Middle East, Europe and the two Americas, which gives Egypt an advantage to boost its commercial relations with different world countries and facilitate the entry of Egyptian exports to all foreign markets.

The trade minister explained the Suez Canal is one of the world’s most important commercial waterways, as it provides the fastest transit route between the Atlantic Ocean and the Indian Ocean, which contributes to rapidly transporting goods and lowering the cost of transportation.

The Suez Canal makes up of 12% of global trade and acquires 22% of container trade, she noted.

Source: State Information Service Egypt