Egypt, France's CMA CGM sign MoU on strategic cooperation in maritime transport

CAIRO – 21 July 2023: The Egyptian Transport Ministry signed via video conference a memorandum of understanding with French shipping company CMA CGM to boost bilateral cooperation in the field of maritime transport, dry ports and logistic areas.

The MoU was signed by Transport Minister Kamel el Wazir and Chairman and Chief Executive Officer of the CMA CGM Group Rodolphe Saadé, in presence of Egypt's ambassador in Paris Alaa Youssef.

This came in line with President Aabdel Fattah El Sisi's directives to turn Egypt into a global trade and logistics hub and boost cooperation and partnerships with major international companies specialized in various fields of transport, including the maritime transport.

The transport minister stressed the importance of this deal, which includes cooperation in several areas; multipurpose terminals, commercial ships, maritime navigation, designing dry ports and logistic areas that connect seaports by railways.

For his part, Saadé lauded the level of cooperation and the signing of the MoU, which represents an important step for a strong launch of the strategic partnership between the two sides.

This great joint cooperation would not be achieved without President Abdel Fattah El-Sisi's support, he said, adding Egypt is witnessing an unprecedented breakthrough in various domains, including the transport sector, Saadé said.

In a meeting with Rodolphe Saadé, the CEO of the CMA CGM Group in June, Sisi said Egypt hopes that cooperation with the French company represents an added value and a qualitative leap in Alexandria Port development.

Such cooperation should enhance the activities of the port at the regional and international levels by implementing the international procedures in port operation and benefiting from foreign expertise, the Egyptian Presidency cited Sisi as saying.

He added that this cooperation aims to help raise the global classification of Egyptian ports in the fields of logistics and trade.

MENA contributed to the reporting.