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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Launched at the beginning of 2024.. Houthi attacks revive the trade line linking Egypt, Jordan, and

    Rocky
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    Launched at the beginning of 2024.. Houthi attacks revive the trade line linking Egypt, Jordan, and  Empty Launched at the beginning of 2024.. Houthi attacks revive the trade line linking Egypt, Jordan, and

    Post by Rocky Sat 10 Feb 2024, 3:58 am

    [size=35][size=35]Launched at the beginning of 2024.. Houthi attacks revive the trade line linking Egypt, Jordan, and Iraq[/size]
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    Economy

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    02-10-2024 | 03:22
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    Alsumaria News - Economy

    The Houthi group's attacks on international cargo ships in the Red Sea and the subsequent threat to navigation in the Suez Canal highlighted the importance of the trade link project between Egypt, Jordan and Iraq, and there was even talk of adding other routes linking the Gulf countries to Egypt.


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    The Arabic line linking the three countries, which came in coordination between the ministries of transport in Egypt, Iraq and Jordan and through the strategic partnership with the Arab Bridge Shipping Company, began operating its first phase at the beginning of this year, according to a statement by the Egyptian Ministry of Transport.



    The first phase of this line represents the link between the Jordanian ports of Aqaba and the Egyptian Nuweiba on the Gulf of Aqaba and from there by land, at the present time, through Sinai to the ports of Al-Arish, East Port Said, Damietta and Alexandria, from which goods will be shipped to European and American ports.

    According to the Egyptian Ministry of Transport, the first phase that was operated is part of an integrated, multi-modal Arab logistical trade line, land, rail, river and sea, where 7 international development logistical corridors are being implemented linking the ports of Nuweiba and Taba on the Gulf of Aqaba to the ports of Al-Arish and East Port Said, and from there to all... Egyptian ports overlooking the Mediterranean Sea.

    The second phase:
    According to the ministry’s statement, work is currently underway to implement the second phase of the integrated Arab trade line, through the establishment of the Taba - Al-Arish - Bir al-Abd - Al-Fardan railway line, with a length of 500 km, to increase the volume of goods intended to be transported from the Gulf, Iraq and Jordan to Europe. And America.
    Egyptian Minister of Transport Kamel Al-Wazir confirmed in the statement that the Egyptian side is keen to provide and provide all forms of support for this new line, by facilitating procedures and encouraging companies and various parties to use the line in both directions, especially with its importance in transporting goods from the Gulf, Iraq and Jordan to European and American countries. .

    The Egyptian government aims to make Egypt a center for global trade and logistics. To do this, it has amended all customs legislation to facilitate and increase direct international transit movement through Egyptian territory, in addition to preparing the infrastructure of ports, road networks, and railways. The Ministry of Transport has also joined agreements that facilitate the crossing of foreign trucks within Egyptian territory in the shortest possible time.

    It is not an alternative to the Suez Canal.
    Muhammad Ali Ibrahim, former Dean of the Faculty of International Transport and Logistics at the Arab Academy for Science, Technology and Maritime Transport, believes that the line may be a window for exports from Jordan and Iraq, and may also open a door for exports from the Gulf countries, as they will pass through this route. It is an investment in the idea of ​​multimodal transportation.

    He added in an interview with Al-Sharq: “Of course this is a solution to the Red Sea crisis for some neighboring countries, but it cannot be an alternative to the Suez Canal.”

    The head of the Suez Canal Authority, Osama Rabie, had stated that the canal’s revenues declined by 44% this January compared to January 2023, amounting to $802 million. This came against the backdrop of a decrease in the number of ships passing through the vital corridor to avoid attacks by the Houthi group in the southern Red Sea.

    12% of the volume of global trade passes through the Suez Canal, and about 25% of container trade, according to the authority, while sailing through the canal saves ten to fourteen days, compared to heading south via the Cape of Good Hope route.

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