Global Trade
El-Sisi stressed the need for ensuring prudent management of these shared waterways, while adopting an approach anchored in the governance of African rivers.
El-Sisi made the remarks in a speech marking Egypt’s celebration of Africa Day at Cairo University.
Speaking at a meeting with ministers and heads of industrial and commercial chambers, Madbouly stressed that the state’s proactive measures have strengthened the country’s ability to secure raw materials and meet all production needs, the Cabinet said in a statement.
As risks rise in Hormuz and the Red Sea, shipping costs climb, trade slows, and food and basic goods get more expensive.
During the first 11 days of January, the number of ships crossing the canal decreased by 30 percent to 544 ships, and the tonnage transversing the canal decreased by 41% compared to the previous year.
