Egypt’s shipping and logistics market will likely reach $14.56 billion in 2024 and $18 billion by 2029, growing at a compound annual growth rate of 4.33 percent from 2024 to 2029, stated Amr El-Samadouni, secretary-general of the International Transportation and Logistics Services Division at the Cairo Chamber of Commerce.
El-Samadouni called for greater cooperation and coordination among all stakeholders, both from the public and private sectors, to address the sector’s challenges facing the global transport and logistics sector. The secretary-general cited challenges including disruptions in the Red Sea, ship reluctance to enter the region, and supply chain interruptions due to ongoing regional conflicts.
Enhancing port efficiency
El-Samadouni also called for enhancing port workers’ efficiency globally and transforming seaports into smart green logistics hubs. Moreover, he stressed the importance of connecting them to international navigation networks. Thus, port congestion resulting from global trade volume increases, ship and container shortages, and supply chain disruptions have led to delays in goods transport and higher transportation costs.
In addition, he stressed the importance of pricing port services according to economic principles. He also highlighted the necessity of focusing on the logistics market to position Egypt as a global trade and logistics hub. El-Samadouni also highlighted the importance of establishing a logistics regulatory body and a higher logistics council in Egypt.
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Transforming Egypt into a transit trade center
El-Samadouni called for tracking Egypt’s logistics market and the sector’s performance through an observatory. Moreover, he highlighted the importance of promoting multimodal and integrated transport to transform Egypt into a transit trade center. In addition, he noted that research on sustainable port infrastructure projects should be done in collaboration with global shipping companies.
El-Samadouni cited three factors crucial for supply chain resilience and economic impact including:
- Investment opportunities in ports and logistics fields
- Feasibility studies
- Learning from global port experiences
The secretary-general also noted that activating ports as integrated logistics centers, linking them to global supply chains, and ensuring local and global integration will reduce costs and improve service quality.
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