Egypt's Minister of the Public Business Sector Hisham Tawfik announced on Tuesday that the shipping line between Ain Sokhna Port and Mombasa Port in Kenya will start operating on 14 October as part of the Gosoor (Bridges) Project, which aims to boost intra-trade between Egypt and other African countries.
In his address to the Rotaries African businessmen forum, Tawfik said that the project aims, in its first phase, to provide an integrated logistics and transportation services chain for external trade and industry with East African countries through companies under the public business sector ministry, in addition to providing a goods insurance service.
“The project is expected to be entirely completed by 2020, and will be managed using international expertise in order to provide high quality service,” Tawfik said.
The services that will be provided through the project, according to Tawfik, include road transport for commodities as well as assembly and customs clearance services at ports.
For sea transport, Tawfik clarified that storage space, in collaboration with international shipping lines, will be allocated to provide a regular service at decreased shipping prices.
He also added that a new marketing and mediation company is being established in cooperation with domestic banks and private sector investors with the aim of opening new markets outside Egypt, in addition to restructuring foreign trade companies inclusively.