Egypt’s strategic location, infrastructure development, and economic reforms are propelling its transformation into a global logistics hub, a theme that dominated discussions at the third panel of the first New Development Bank seminar held in the country. The panel highlighted Egypt’s role as a vital link in global trade, with its proximity to major shipping lanes, the Suez Canal, and significant ports like Alexandria, Damietta, and Port Said. Stephane Guimbert, World Bank Group Country Director for Egypt, Yemen, and Djibouti, praised Egypt’s strategic location and economic reforms. He noted that 40% of global trade and 30% of containers pass through Egypt, highlighting the country’s potential as a regional hub for transportation and trade, particularly in green energy. The panel underlined Egypt’s growing prominence in global trade, fueled by its strategic location, infrastructure investments, and commitment to economic reforms.

Source: Daily News Egypt June 13, 2024 13:25 UTC