Chairman of the Suez Canal Economic Zone (SCZone) Yehia Zaki discussed with Executive Director of Dubai Ports World (DP World) in the Middle East Suhail al-Banna bilateral joint work.
They reviewed the latest developments on the joint cooperation and official operation of the second basin in Ain Sokhna port, in preparation for its official opening in the coming months.
It was designed based on the latest international standards to receive giant vessels, which ensures it can start trading operations immediately after the official inauguration.
In a statement on Wednesday, Zaki said he discussed with Banna the development process in the economic zone and the future of the Emirati Company’s business there, especially at the industrial zone and port.
Discussions took into account DP World’s increased growth rates at the port, to reach the desired levels of development.
The meeting also reviewed the latest developments in the contract between the two parties, regarding the establishment and development of a special industrial zone on an area of 10 sq km, with its implementation in accordance with the timetable approved between the two parties.
Egyptian Transport Minister Eng. Kamel al-Wazir stressed his ministry’s interest in developing maritime transport and cooperating with international companies in this field to support the national economy.
During his meeting with Banna, Wazir highlighted Egypt’s influential regional role.
Having a distinct maritime transport sector makes Egypt a major hub in the global trade route, he noted.
The Ministry is implementing a comprehensive plan to establish several dry ports and logistical areas to serve the commercial community and maintain the route network, Wazir said, adding that this is done by transporting goods to and from these ports through the railway network.
Banna, for his part, stressed the importance of cooperation with the Egyptian side, given Egypt’s international and regional influence, its role in a number of international agreements on global trade, as well as its distinguished position that contributes to the international trade movement.
In April, DP World Sokhna, a major gateway for Egypt’s trade, said it is operating its port at maximum capacity to meet import requirements and to continue supporting the country's people and economy during the novel coronavirus pandemic.
In November 2017, Egypt’s SCZone Authority and DP World signed a partnership agreement to develop an integrated industrial and residential zone in the Egyptian Red Sea coastal area of Sokhna.
Under the agreement, a joint venture between SCZone (51%) and DP World (49%) was established, with DP World managing the zone.
