Suez Canal fulfills trade needs between Asia, Europe

World
Europe

02:44

The Suez Canal, one of the world's busiest shipping routes, sits strategically between Asia, Africa and Europe. Running through northern Egypt and surrounded by deserts on both sides, the canal holds the country's destiny.

As trade between China and Europe increases, Egypt is also benefiting thanks to the canal.

The Suez Canal serves as a node that connects Asia, Africa and Europe. /CGTN Photo

"It's the biggest hub for trading between Asia and Europe. There are several advantages here to use the Suez Canal. The ships can pass smoothly without any problems," said Mohamed Galal, a branch manager of COSCO SHIPPING Lines (Egypt).

"It holds the biggest portion of trading between Asia and Europe," Galal said.

Nearly a hundred vessels travel the Suez Canal every day, generating total service fees of about 5.3 billion US dollars in 2017 – a sizable source of revenue for the country.

"Geographically, the canal is a shortcut that connects the Indian Ocean and the Mediterranean Sea. If we don't go through his path, and take instead the route of the Cape of Good Hope, it will cost much more time and money. And that will delay our schedule," said Shen Zhongyi, captain of COSCO SHIPPING's Virgo vessel.

It takes about 12 hours to travel the Suez Canal. The passage is only 200 meters wide, so ships, which mostly measure 60 meters in width, have to slowly navigate the waters.

Captains also have to consider the terrain below the water to prevent any grounding or other accidents.

Construction projects along the bank of the canal are underway. /CGTN Photo

The canal is working on increasing the capacity of handling the ships and providing a better investment environment to cope with the growth of world trade.

"The government is now giving some privileges to investors. There is a new investment zone. It gives more exemptions for new factories, especially for Chinese investors," Galal said.

Egypt was once called the "gift of the Nile", and the Suez Canal is Egypt's winning card to capitalize on the growing trade volume between China and Europe.