UAE, Egypt Partner to Build US$3 Billion Mediterranean Logistics and Trading Zone

Egypt and the UAE have joined in a strategic partnership that sets the stage for the establishment of a cutting-edge logistics trading zone in the Mediterranean region, with investments projected to soar beyond US$3 billion, as announced by the Egyptian Cabinet.

At the heart of this MoU lies a commitment to leveraging the strong ties between the Fujairah Company and key global oil and gas suppliers, aimed at satisfying Egypt's growing demand for petroleum products. 

The focus is on optimizing resources within the petroleum sector to boost the trading of these vital commodities.

The agreement also underscores plans to maximize the nation's port infrastructure, storage capacities, and marine terminals.

To ensure a smooth and efficient execution of this partnership, a joint task force comprising representatives from both Egypt and the UAE has been established. 

Read More: Egypt's Shipping and Logistics Market Hits US$14.6 Billion in 2024