Saturday, June 22, 2024

Baghdad

Red Sea tensions revive trade line between Iraq, Jordan, Egypt

 Red Sea tensions revive trade line between Iraq, Jordan, Egypt

Employee watches the Container ship ‘Hyundai Force’ at the Container Terminal Altenwerder (CTA) at Hamburg harbor. Photo: Reuters

Baghdad (IraqiNews.com) – The Egyptian Ministry of Transport announced on Saturday that the first phase of the Arab trade line linking Iraq, Egypt, and Jordan began operations in early 2024, following the Red Sea tensions.

The Houthi group’s attacks on international cargo ships in the Red Sea and the subsequent threat to navigation in the Suez Canal highlighted the importance of a trade project linking Iraq, Egypt, and Jordan.

According to the Egyptian Transport Ministry, work is currently underway to implement the second phase of the integrated Arab trade line by building a 500-kilometer railway to increase the volume of goods transported from the Gulf, Iraq, and Jordan to Europe and the United States.

Experts see that the project may be a window for exports from Jordan and Iraq. It may also open a door for exports from Gulf countries, as they will pass through this route.

Last December, the Iraqi Ministry of Transport said that Iraqi ports had become an alternative to international transport lines to deliver goods from east to west.

Major international transport companies changed their routes due to the security tension in the Red Sea and the Bab Al-Mandab Strait.​