Egypt launches Canal Trust to strengthen East Africa trade links
Egypt has established Canal Trust Ship Services to operate specialised cargo vessels and logistics services on a new maritime route linking Egyptian and East African ports.
Egypt has taken a major step toward strengthening trade ties with East Africa with the establishment of Canal Trust Ship Services Company, a new entity that will manage and operate specialised commercial vessels connecting Egyptian ports with ports across East African countries.
The company's formation was approved during a constituent assembly meeting chaired by Egypt's Minister of Transport, Kamel el-Wazir. During the meeting, shareholders endorsed the company's articles of incorporation and bylaws, appointed its board of directors, and selected its auditor and legal advisor.
According to the Ministry of Transport, the initiative aligns with the directives of President Abdel Fattah El-Sisi to deepen cooperation with African nations and enhance intra-African trade. The government views the project as part of its broader strategy to increase exports, access new markets, and expand economic relations with countries across the continent, particularly in East Africa.
El-Wazir emphasised that stronger connectivity with African countries, especially through transport networks, is essential for advancing regional integration and supporting sustainable economic development.
The company will be responsible for managing specialized cargo vessels and providing a range of supporting logistics services. These include shipping agency operations, customs clearance for import and export cargo, and inland logistics activities such as transportation and warehousing.
In addition, Canal Trust Ship Services will coordinate with ports, customs authorities, veterinary agencies, and other regulatory bodies. The vessels will initially operate through Safaga Port, with plans to expand operations to all Red Sea ports in the future.
