Egypt launches Ain Sokhna-Mombasa shipping line

CAIRO, Oct 20 (MENA) - Egypt launched a shipping line from Ain Sokhna Port to Mombasa Port in Kenya, Public Enterprise Minister Hisham Tawfik said.

The line will offer a full range of transport and logistics services to global traders working with East African countries, Tawfik added.

Tawfiq made the remarks during his participation in a conference on governance index in Africa that was organized by the Egyptian Center for Economic Studies.

The shipping line is part of Gosoor Project adopted by the Public Enterprise Ministry to enhance foreign trade between Egypt and Eastern and Central African states.

The project aims, in its first phase, to provide an integrated logistics and transportation services chain for external trade and industry with East African countries through companies under the public business sector ministry, in addition to providing a goods insurance service, Tawfiq said.

The second stage of the project is to be finalized in the second quarter of 2020 and will include assembly and custom clearance services at ports, exhibitions and the establishment of a marketing and mediation company in partnership with domestic banks and private sector investors, he added.