Egypt's government is leveraging the country's unique position at the crossroads of Africa, Europe and Asia to transform it into a regional hub for transport, logistics, and transit trade.
"There is no doubt that Egypt's geographical location represents one of the country's most important strategic assets. It lies at the confluence of three continents, overlooks the Mediterranean and Red Seas and controls one of the world's most important navigation corridors, represented by the Suez Canal," says Kamel Al-Wazir, Egypt's minister of transportation.
"However, the Egyptian state today views this geographical advantage from a more comprehensive perspective that goes beyond simply benefiting from ship transit fees," he adds.
The state's overarching goal, he tells African Business, "is not only to increase the movement of goods crossing Egyptian territory, but also to create added value within the national economy through the expansion of logistics and storage activities and industries related to international trade, which contributes to creating job opportunities, increasing exports and enhancing economic growth".
Originally published by African Business.