FM: regional escalation threatens global trade, energy flows

Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty warned of the impact of escalating regional tensions on global trade and energy markets during a meeting in London with Secretary-General of the International Maritime Organization (IMO) Arsenio Dominguez. Abdelatty said the regional escalation has led to higher shipping and insurance costs and disruptions in the flow of essential goods. He stressed the importance of strengthening international cooperation to address challenges facing global maritime transport and supply chains. The minister praised cooperation between Egypt and the IMO and expressed Egypt’s commitment to expanding joint work, particularly through its membership in the organization’s council. He also highlighted Egypt’s hosting of the IMO regional representation office, saying Cairo is working to support capacity-building programs for maritime transport workers across the region to improve expertise and keep pace with developments in shipping, ports and logistics services. Abdelatty also reviewed Egypt’s role in international maritime shipping through the Suez Canal, pointing to ongoing efforts to expand dual shipping lanes and improve navigation efficiency. He said the Suez Canal Economic Zone offers major economic opportunities and is helping transform the canal area into an integrated hub for trade, industry, and maritime services. The talks also covered the impact of developments in the Middle East on international maritime security and global supply chains. For his part, Dominguez praised Egypt’s progress in logistics and port services, saying it has contributed to supporting global trade and shipping movement in an effective and sustainable manner. He also stressed the importance of cooperation with Egypt in addressing challenges facing the global maritime transport sector.   The post FM: regional escalation threatens global trade, energy flows appeared first on Egypt Independent.