Egypt could be more of logistical, trade hub for “Belt and Road” countries

Egypt has the potential to become a prominent logistics and trade hub that can facilitate shipping and trade between countries involved in the Belt and Road Initiative (BRI), stated Prime Minister Mostafa Madbouly. This comes during Prime Minister Madbouly's participation in the third edition of the Belt and Road Forum for International Cooperation in Beijing. The Prime Minister pointed out Egypt's attractive investment climate. Its infrastructure and strategic geographical location can contribute to connecting international markets, aiding the smooth operations of supply chains and promoting the concept of connectivity in a globally open economy. Moreover, Egypt joined the BRICS group of countries to enhance coordination between developing countries and emerging economies and contribute to shaping international economic policies. Further, the Prime Minister stressed that the BRI plays a transformative role in augmenting connectivity among various initiative countries. This consequently benefits the involved countries and world citizens by catalysing mutual cooperation for inclusive development and progress. The Chinese government initiated the BRI to augment trade, investments, and infrastructural development in over 150 countries across Asia, Europe, the Middle East, Africa, and Latin America, reviving the once-established 'Silk Road'.