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Under the Patronage of the Embassy of Italy in Cairo, ALEXBANK and SRM presented the fourth edition of the Suez Canal Report

ALEXBANK and SRM - Center for economic studies based in Naples, both members of Intesa Sanpaolo Group, hosted an event on 2nd of April, under the Patronage of the Embassy of Italy in Cairo, to present their fourth edition of the Suez Canal report, titled “The Suez Canal: The impact of war and the pandemic on maritime routes, an analysis of port competitiveness indicators, the role of Egypt in global trade and the development of the SCZone.”
The event was attended by H.E. Michele Quaroni, the Italian Ambassador to Egypt, Mr. Dante Campioni Managing Director and CEO of ALEXBANK, Mr. Massimo Deandreis, General Manager of SRM, in addition to other senior Managers of both ALEXBANK and SRM, and top government officials and leaders of Egypt’s business community.
The report tackles the performance of the Suez Canal, through which around 12% of global maritime traffic pass through. It also highlights the impact of the war-induced change in trade patterns on the Suez Canal traffic, the major boost in revenues recently recorded reaching the high of USD 8 billion on annual basis, in addition to the significance of the trade relations and maritime connections with the European Union, and Italy in particular. The report also give mention to the developments relevant to the Suez Canal Economic Zone as per progressive infrastructure projects and mega investments in Green Hydrogen, which give Egypt a great potential as growing hub also for green energy.
H.E. Michele Quaroni, the Italian Ambassador to Egypt, “This report confirms the strategic function of the Suez Canal in the Mediterranean region and the pivotal role of Egypt to ensure stability both at regional and global level. The Canal is a key infrastructure and an essential asset for the security and the economic development in the Mediterranean. The report also gives concrete evidence of the role and strength that trade and investment give to the bilateral relation between Italy and Egypt and of ALEXBANK and the Intesa Sanpaolo Group’s presence at the heart of the Egyptian economy.”

Massimo Deandreis, General Manager of SRM: “The research we carried out jointly with ALEXBANK highlights the Suez Canal’s value for international trade. In fact, this infrastructure is used by over 23,000 vessels every year accounting for 12% of global maritime traffic. This fourth edition of the Report focuses on the geo-strategic importance of this crucial hub in a special moment of our economic history where a reshaping of routes is underway due to the war and more general issues affecting global value chains. The research also underlines that Egypt remains a strategic trade partner for Europe and Italy with significant trade relationships and over 80% of transport being seaborne. Strengthening such links can and must be done, as a precondition for winning the future challenges of the Mediterranean area.”
Mr. Dante Campioni, ALEXBANK’s Managing Director and CEO: “We have been committed to highlight the developments relevant to the Suez Canal for several years, based on our strong belief in its strategic significance for global trade and the local economy, especially after the establishment of the Suez Canal Economic Zone”. 
Mr. Campioni added “Egypt is a gateway to access millions of customers around the world, particularly in Africa and the Middle East, having signed 16 preferential trade agreements with major economic blocs worldwide, covering almost 107 countries, which supports the country’s aim of becoming an export hub”. 
It’s worth mentioning that ALEXBANK & SRM released the first edition of its reports on the Suez Canal in 2015 to analyze the expected impacts of the doubling of the Canal on Mediterranean trade. Later in 2018, the second report was published with a particular focus on the China's Belt & Road Initiative, and the investments underway in the Suez Canal Economic Zone, to become one of the most important economic zones in the MENA region. In 2021, ALEXBANK and SRM published the third report that tackled the Canal’s performance in the aftermath of COVID-19 pandemic and the magnitude and impacts of the ongoing developments in the Canal’s Economic Zone.

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