Key issues highlighted include disruptions in the Red Sea, ships' reluctance to navigate the region, and supply chain interruptions exacerbated by ongoing conflicts in Gaza, Sudan, and the Russia-Ukraine war.
El-Samadouni revealed that Egypt's shipping and logistics market is projected to hit $14.56 billion in 2024, with an anticipated growth trajectory reaching $18 billion by 2029, reflecting a compound annual growth rate of 4.33%. He pointed out that port congestion, driven by increasing global trade volumes, along with shortages of ships and containers, continues to cause significant delays in goods transportation and escalate transportation costs.
He advocated for a transformation of seaports into smart, green logistics hubs, seamlessly connected to international navigation networks, and emphasized the global enhancement of port workers' efficiency. Furthermore, he underscored the importance of pricing port services based on economic principles and focusing on logistics to position Egypt as a global trade and logistics hub. Establishing a logistics regulatory body and a higher logistics council were also deemed essential.
El-Samadouni called for the creation of a logistics performance observatory and the promotion of multimodal and integrated transport systems to elevate Egypt's status as a transit trade center. He urged for research into sustainable port infrastructure projects that account for future ship sizes, in collaboration with global shipping companies.
"Transforming ports into integrated logistics centers, linking them to global supply chains, and ensuring local and global integration will reduce costs and enhance service quality," he stated. He also stressed the significance of investment opportunities in ports and logistics sectors, feasibility studies, and learning from global port experiences to bolster supply chain resilience and economic impact.
In his concluding remarks, El-Samadouni called for the swift activation of ports as integrated logistics centers to improve services related to ships and cargo movement, thereby fostering improvements in the global supply chain.
