ISMAILIA, Egypt, May 8, 2018 (MENA) - The Suez Canal and the new Suez Canal represent the artery of life for the international economy, Suez Canal Authority Chairman Mohab Mameesh said. Mameesh made the remark during the inauguration of the Conference on Maritime Transport and Logistics on Tuesday, held under the aegis of President Abdel Fattah El Sisi. The two-day event is organised by the Union for the Mediterranean (UfM) and the Suez Canal Economic Authority. He said about 11% of the world trade passes through the Suez Canal. He noted about 18,000 ships transit the waterway annually. Meanwhile, UfM Assistant Secretary General Ihab Fahmi underlined the union's support for Egypt's march of development and war against terrorism. He called on the Euro-Mediterranean region to rally efforts to confront the challenges besetting the region and build human and economic capabilities. He added that improving the trade and transport infrastructure in the region will boost regional trade exchange by 3.6 percent and up exports by 6.5 percent. He underscored that the new Suez Canal and its Economic Zone have contributed to boosting international trade.
