Egypt on the Economic Corridor: No alternative for Suez Canal
Former Suez Canal Authority Head asserts that there is no substitute for the Suez Canal in maritime transport, in response to the announcement of the Economic Corridor project by the United States, India, and Saudi Arabia.
General Mohab Mamish, former adviser to the President and former head of the Suez Canal Authority, emphasized that there is no alternative to the Suez Canal, which stands as the fastest route for maritime transport.
These statements come in response to the announcement made by the United States, India, and Saudi Arabia on the sides of the G20 summit on Saturday, regarding the launch of the Economic Corridor project which connects India to the Middle East and Europe through Saudi Arabia, the United Arab Emirates, Jordan, and the Israeli occupation.
In televised remarks, Mamish stressed that there can be "no comparison between a multimodal project and the Suez Canal, which is the fastest maritime route in the world."
He also denied any potential impacts or repercussions on the canal in the future, stating that "the transportation process through it [the Economic Corridor] would be costly, time-consuming, and against the economics of maritime transport."
Mamish explained that the project involves "transporting goods by sea, then by rail, followed by land transport vehicles before finally unloading on land." He added that this is a "highly costly process with no comparison to the Suez Canal."
In contrast, he explained that the Suez Canal is "capable and prepared to compete since it is the fastest, deepest, and most secure canal in the world. In just 11 hours, we reach the Red Sea and connect to Asia, Europe, and all the world's ports."
It is worth noting that the Suez Canal is an artificial waterway at sea level in Egypt, running from north to south through the Suez Isthmus to connect the Mediterranean Sea to the Red Sea. It serves as the shortest maritime route between Europe and countries surrounding the Indian Ocean and the western Pacific Ocean, making it one of the busiest shipping lanes globally.
During the G20 summit in New Delhi, US President Joe Biden announced a plan to build a railway and shipping corridor connecting India, the UAE, Saudi Arabia, Jordan, and the European Union, aiming to boost trade and political cooperation.
Biden stated that this deal is "truly significant," noting that the corridor "will help enhance trade, secure energy resources, and improve digital connectivity."
The announcement was also attended by Indian Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and other leaders from around the world.
According to information released, "Israel will participate in extending the railway tracks, infrastructure, and shipping lines, along with Saudi Arabia, the UAE, and Jordan."
The White House did not however specify when the project would be completed, its cost, or how it would be financed.