A cargo ship is seen crossing through the New Suez Canal, Ismailia, Egypt, July 25, 2015. - Reuters
CAIRO - 8 April 2018: The Egyptian and Brazilian governments are holding negotiations to establish a direct navigation route between Port Said and Brazil, Secretary General of the Federation of Chambers of Commerce Alaa Ezz said Sunday.
The navigation line will integrate with the Brazil-Portugal and Portugal-Egypt lines, Ezz told MENA, adding that the new line will be discussed during the Egyptian-Portuguese Business Forum, to be organized by the federation on Thursday within the framework of the visit to Egypt by Portuguese President Marcelo Rebelo de Sousa.
The forum will be attended by Minister of Trade Tarek Kabil and his Portuguese counterpart, he said.
The Egyptian-Portuguese Business Council will convene after its recent formation and Egyptian and Portuguese businessmen operating in the fields of information technology, industry, agriculture, transport, logistics, leather industries and automobile spare parts, will hold a meeting, he added.
Trade between Egypt and Portugal increased last year to hit €218 million, compared with €192.57 million in 2016.
Egypt's exports to Portugal include leather, iron, cotton, plastic, fertilizers and sugar, while its imports from Portugal are mainly paper, petroleum, furniture and industrial equipment.
Portugal's investments in Egypt amount to around $404.7 million.