Highlighting Egypt’s advantageous freight movement.

Highlighting Egypt’s advantageous freight movement.
A 108-page study states that Egypt is among the most developed economies in the Middle East and North Africa (MENA) region. In the three years prior to the global recession, the country averaged GDP growth of around 7 percent. Geographically, it is a gateway between the world’s major markets. It also controls the Suez Canal and thousands of kilometres of the Nile River.
The amount of resources pumped into the compilation and presentation of the report on the untapped potential of international and domestic shipping in Egypt seems a clear indicator of the profits expected from this sector.
Members who attended the presentation included representatives from Egypt’s Investment and Transportation Ministries and regional heads of APL and Frost & Sullivan.
Trade agreements such as the US-Egypt Partnership for Economic Growth and Development, the EU partnership agreement, and the Common Market for Eastern and Southern Africa Agreement (COMESA), all represent the government’s “commendable” commitment to encouraging free trade in Egypt.
Speaking at the launch of the research in Cairo, APL’s President, South Asia, Mr Goh Teik Poh, said: “Egypt has many natural attributes and a Government commitment to harnessing growth opportunities. By ensuring its freight capacity and capabilities keep pace with demand, it can take its place among the world’s elite trading nations.”
Egypt’s positive momentum in recent years has been supported by far-reaching Government-led reforms aimed at making Egypt more trade and business friendly, the report states. This openness has seen Egypt rise up the rankings of, among others, the World Bank Doing Business Survey and World Economic Forum Global Enabling Trade Report. The same surveys highlight opportunities to drive improvement in Egypt’s infrastructure, which is a key focus area of “Connecting Egypt”.
To achieve this goal, it is essential to sustain a unified vision for Egypt’s freight transportation and logistics environment, which, according to the survey, would also likely deliver economic and social benefits for Egypt – including the creation of jobs for ordinary citizens. Responsibility for realizing this vision should be shared between the public and private sectors, according to the research.