Egypt launches joint company for East Africa Maritime Trade

Egypt’s Suez Canal Shipping Agencies Company and Trust for Trade and Transport Company signed a cooperation agreement on Thursday to establish a joint venture managing specialised commercial vessels on a maritime route linking Egyptian ports with East African countries.

The vessels will transport livestock and Egyptian goods, aiming to strengthen trade ties across the region. The new company will oversee logistics services, including shipping agency operations, customs clearance, domestic transport, and storage, while coordinating with ports, customs, veterinary, and regulatory authorities. Operations will begin at Safaga Port, with plans to expand to all Red Sea ports.

Transport Minister Kamel El-Wazir said the initiative aligns with President Abdel Fattah El-Sisi’s directives to boost inter-African trade. “Expanding Egyptian exports, opening new markets, and strengthening trade with African countries, particularly in East Africa, are government priorities,” he said. El-Wazir added that improving transport links with African nations is key to continental integration and sustainable economic growth.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser