ALEXBANK and SRM, Center for economic studies based in Naples, both members of Intesa Sanpaolo Group, hosted an event on the 2nd of April, under the Patronage of the Embassy of Italy in Cairo, to present their fourth edition of the Suez Canal report, titled “The Suez Canal: The impact of war and the pandemic on maritime routes, an analysis of port competitiveness indicators, the role of Egypt in global trade and the development of the SCZone.”
The report tackles the performance of the Suez Canal, through which around 12% of global maritime traffic pass through. It also highlights the impact of the war-induced change in trade patterns on the Suez Canal traffic, the major boost in revenues recently recorded reaching the high of USD 8 bn on annual basis, in addition to the significance of the trade relations and maritime connections with the European Union, and Italy in particular.
The report also mentions the developments relevant to the Suez Canal Economic Zone as per progressive infrastructure projects and mega investments in Green Hydrogen, which give Egypt great potential as a growing hub also for green energy.
Attending the event was Michele Quaroni, Italian Ambassador to Egypt, Dante Campioni, Managing Director and CEO of ALEXBANK, Massimo Deandreis, General Manager of SRM, in addition to other senior Managers of both ALEXBANK and SRM, and top government officials and leaders of Egypt’s business community.
It’s worth mentioning that ALEXBANK & SRM released the first edition of its reports on the Suez Canal in 2015 to analyze the expected impacts of the doubling of the Canal on Mediterranean trade.
