Egyptian Foreign Minister Badr Abdelatty discussed escalating security tensions in the Red Sea during a visit to Oman on Monday, stressing the importance of maritime safety, freedom of international trade, and the direct link to the security of Red Sea littoral states.
Abdelatty highlighted the economic impact of the tensions on Egypt, particularly the decline in Suez Canal revenues, which fell from $9.4 billion in 2022–2023 to $7.2 billion in 2023–2024 due to the Houthi attacks on ships in the Red Sea and Bab al-Mandab Strait.
The attacks, carried out in solidarity with Palestinians in Gaza, have forced global shipping companies to reroute vessels through the Cape of Good Hope.
During his meeting with Oman’s Deputy Prime Minister Fahd bin Mahmoud Al Said, Abdelatty expressed Egypt’s appreciation for the sultanate’s leadership and its stabilizing regional role.
According to a statement by the Egyptian Foreign Ministry, he emphasized the need for Arab cooperation to address the region’s unprecedented instability, underscoring Egypt’s commitment to working closely with Oman to promote security and stability.
Abdelatty also met with his Omani counterpart Badr Al-Busaidi to discuss bilateral ties and regional issues. They reviewed existing cooperation frameworks and explored ways to boost relations, especially in trade, investments, and logistics.
The Egyptian official highlighted his country’s economic reform program and its efforts to attract foreign investment by improving the business climate and offering incentives.
The ministers discussed bolstering cooperation between the Suez Canal Economic Zone and Oman’s Special Economic Zone at Duqm, as well as strengthening maritime links between key ports, such as Duqm, Salalah, Alexandria, and Ain Sokhna. Such initiatives aim to boost trade and deepen collaboration in logistics and maritime transport, leveraging both nations’ strategic geographic locations.
Regional topics, including developments in Syria, Gaza, Yemen, Libya, Lebanon, and the Horn of Africa, were also addressed. The ministers expressed concern over the impact of Red Sea tensions on littoral states and shared a commitment to finding comprehensive political solutions for these crises.
