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Egypt Inaugurates Mediterranean Union Investment Forum of Renewable Energy

Ministers during the inuaguration (Union for Mediterranean)
Ministers during the inuaguration (Union for Mediterranean)
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Egypt Inaugurates Mediterranean Union Investment Forum of Renewable Energy

Ministers during the inuaguration (Union for Mediterranean)
Ministers during the inuaguration (Union for Mediterranean)

Mediterranean union investment forum of renewable energy began in Egypt on Wednesday aiming to launch several opportunities in the field of renewable energy in the Euro-Mediterranean region, enhance cooperation on energy and climate actions, and create a more active involvement of the private sector in the regional-European-Mediterranean collaboration.

Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker el-Markabi, Egyptian Minister of Investment and International Cooperation Sahar Nasr inaugurated on Wednesday the forum at the presence of Portuguese Secretary of State for Energy Jorge Seguro Sanches, Secretary General of the Union for Mediterranean (UfM) Fathallah Sijilmassi, official representatives, international financial institutions and private sector investors.

Minister Nasr said that the Electricity Ministry reforms in the energy field, including feed-in tariffs, contribute in attracting the investors to invest in the renewable energy, as well as in attracting a number of development partners such as the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).

She added that a renewable energy strategy has been followed through diversifying energy sources and allocating subsidies for the field.

“Renewable energy projects include providing job opportunities and contributing to achieving the sustainable development goals,” according to Nasr.

Nasr stressed that there are huge regional cooperation opportunities, human and natural resources and huge markets that qualify the region to integrate more with the European partner.

On the other hand, the Minister of Electricity said that the energy strategy will link between Egypt, Asia, Africa, and Europe.

Minister Markabi highlighted the importance of the role played by the private sector and the Euro-Mediterranean cooperation in the fields of renewable energy and energy efficiency.

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IATA: Air Cargo Demand Up 2.2% Despite Trade Disruptions

The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch 
The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch 
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IATA: Air Cargo Demand Up 2.2% Despite Trade Disruptions

The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch 
The International Air Transport Association (IATA) logo is seen at the International Tourism Trade Fair ITB in Berlin, Germany, March 7, 2018. REUTERS/Fabrizio Bensch 

Total air cargo demand, measured in cargo ton-kilometers (CTK), rose by 2.2% compared to May 2024 levels, up 3.0% for international operations, according to the International Air Transport Association (IATA).

Also, capacity, measured in available cargo ton-kilometers (ACTK), increased by 2% compared to May 2024, up 2.6% for international operations.

The Association said several factors in the operating environment should be noted, including year-on-year world industrial production, which rose 2.6% in April 2025.

Meanwhile, air cargo volumes grew 6.8% over the same period, outpacing global goods trade growth of 3.8%.

IATA said jet fuel prices in May 2025 were 18.8% lower than the previous year and 4.3% below the previous month.

It noted that global manufacturing contracted in May, with the PMI falling to 49.1, below the 50 mark that signals growth.

New export orders also remained in negative territory at 48, reflecting pressure from recent US trade policy changes, the Association revealed.

Global manufacturing output, measured by the PMI, dropped below the 50 threshold to 49.1 in May, for the first time in 2025.

This, IATA said, was a 6.9% year-on-year decrease and a 2.8% drop compared to April 2025, indicating a slight weakening in global manufacturing production compared to April 2025.

Meanwhile, output declined in May, new export orders grew 1.6 index points from April, to 48. New export orders have been directly affected by the US trade policy changes, which have reshaped global demand dynamics and impacted trade flows.

Willie Walsh, IATA’s Director General, said the rise of cargo demand globally by 2.2% in May is encouraging news as a 10.7% drop in traffic on the Asia to North America trade lane illustrated the dampening effect of shifting US trade policies.

“Even as these policies evolve, already we can see the air cargo sector’s well-tested resilience helping shippers to accommodate supply chain needs to flexibly hold back, re-route or accelerate deliveries,” he said.

Meanwhile, carriers in the Middle East continued to build momentum, expanding for the second consecutive month. The region recorded a 3.6% year-on-year rise and capacity increased by 4.2%.

Asia Pacific posted the strongest growth, up 8.3% year-on-year while capacity increased by 5.7%.

In return, North American carriers saw a -5.8% year-on-year decrease in growth for air cargo in May, the slowest growth of all regions. Capacity decreased by -3.2%.

European carriers saw 1.6% year-on-year demand growth for air cargo in May. Capacity increased 1.5%.

Also, Latin American carriers saw a 3.1% year-on-year increase in demand growth for air cargo in May. Capacity increased 3.5%.

As for African airlines, they saw a 2.1% year-on-year decrease in demand for air cargo in May. Capacity increased by 2.7%.

Trade Lane Growth

A significant decrease in the Asia-North America trade lane was expected and realized as the effect of front-loading faded and changes to the de-minimis exemption on small package shipments were enforced.

As cargo flows reorganized, several route areas responded with surprising growth, IATA said.