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[size=38]Tripartite alliance between Iraq, Egypt and Jordan to boost maritime trade[/size]
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November 14, 2024[You must be registered and logged in to see this link.]
Baghdad/Al-Masala: Egypt, Jordan and Iraq seek to enhance their partnership in maritime transport through the Arab Bridge Navigation Company, with the aim of improving trade between the continents of Asia, Africa and Europe.
The company was established in 1985 through an agreement between the three countries, exploiting its strategic location to operate a shipping line linking the ports of Aqaba and Nuweiba, with a headquarters in Jordan.
During a ministerial meeting in Alexandria, the transport ministers stressed the need to develop the company and support its activities, especially in light of the regional challenges that have affected trade movement in the Red Sea. The ministers’ discussions included the company’s expansion, including opening new shipping lines and updating the fleet by purchasing two tourist boats and a modern cargo ship, which will increase the number of units to ten ships. This expansion will help mitigate the negative impact of the decline in Suez Canal revenues resulting from geopolitical tensions, such as Houthi attacks in the Bab al-Mandab Strait.
Experts believe that the expansion of the “Arab Bridge” is an important step to enhance trade and facilitate commercial exchange. Those in charge of the project aspire to create an attractive commercial hub for global carriers, which will contribute to supporting the three economies and reduce dependence on the exhausting Suez Canal route.
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