Cairo: The Canal Shipping Agencies Company and Trust Trading and Transport Company have signed a cooperation protocol to establish a joint venture for managing and operating specialized commercial vessels. These vessels will navigate a maritime route connecting Egyptian ports with East African ports to transport livestock and Egyptian goods.

According to State Information Service Egypt, the protocol was signed by Mohamed Abdo Karrar, CEO of Canal Shipping Agencies, and Ahmed Mohamed Abu Khadra, Chairman of Trust Trading and Transport, in the presence of senior transport and maritime officials. Transport Minister Kamel el Wazir, who witnessed the signing ceremony, stated that the agreement aligns with the directives of President Abdel Fattah El Sisi to improve cooperation and boost intra-African trade. It also supports government initiatives to increase Egyptian exports, open new markets, and expand trade volume with African countries, particularly in East Africa.

The new company will manage and provide logistics services for specialized commercial vessels and related activities, including shipping agency services and customs clearance for cargo transported by these vessels. It will also offer inland logistics services, such as transportation and storage, and coordinate with ports and customs, veterinary, and regulatory authorities.

The vessels will initially be received at Safaga Port, with plans to expand their reception to all Red Sea ports soon. Transport Minister el Wazir emphasized that connectivity with African countries, including in the transportation sector, is a key pillar for achieving continental integration and promoting sustainable economic growth.