Arab Finance: The Ministry of Transport has signed a cooperation protocol between the Canal Shipping Agencies Co. and Trust Company for Trading and Supply to establish a joint venture for managing and operating specialized commercial vessels on a shipping route linking Egyptian ports with ports in East African countries, as per a statement.

The newly established company will be responsible for managing and providing logistical services for special-purpose commercial vessels transporting livestock and Egyptian goods.

Its activities will include maritime agency services, customs clearance for exported and imported goods, and inland logistics operations such as transportation, storage, and coordination with ports, as well as customs, veterinary, and regulatory authorities.

The vessels will initially be received at Safaga Port as a first phase, with plans to expand operations to include all Red Sea ports in the near future.

Kamel El-Wazir, Minister of Transport, said the Egyptian government is prioritizing the expansion of Egyptian exports, the opening of new markets, and the increase of trade volumes with African countries, with a particular focus on East Africa.

He stressed that connectivity with African countries across multiple sectors, including transport, represents a core pillar for achieving continental integration and supporting sustainable economic growth.

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