Arab Finance: Prime Minister Mostafa Madbouly met with Vincent Clerc, CEO of A.P. Moller-Maersk, to mull ways of expanding cooperation in maritime transport and logistics, as per a statement.

Madbouly reaffirmed the Egyptian government's commitment to working with the group and other global shipping companies to support traffic through the Suez Canal.

He added that the government will continue implementing plans to develop the canal and the surrounding economic zone while improving maritime and logistics services to strengthen the canal's competitiveness as a global trade hub.

The prime minister added that Egypt is working to mitigate the impact of disruptions to maritime traffic in the Red Sea, noting that regional tensions had affected global trade and Suez Canal traffic.

He also said conditions in the Red Sea have recently improved, leading to higher ship transit rates and the gradual return of large container vessels to the canal, expressing hope that the trend will continue and restore maritime traffic to normal levels.

For his part, Clerc stressed Egypt as one of the world's most important trade hubs and reaffirmed the strategic partnership between the Egyptian government and Maersk.

In addition, he said the company is committed to expanding its investments in Egypt and strengthening cooperation with the government, adding, "We are committed to the resumption of trade through the Suez Canal."

Madbouly concluded the meeting by reaffirming the government's commitment to continuing cooperation with Maersk and major international shipping companies while encouraging more shipping lines to resume transits through the Suez Canal to reinforce Egypt's position as a regional and global hub for maritime transport and logistics services.