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Wednesday, 27 April 2016

Suez Canal’s prominence is not reduced by competing routes and slump in global trade

The Suez Canal’s importance to global trade has not been diminished by the decline in international trade, said a number of logistics and trade experts speaking to Al Masry Al Youm, who praised Egypt’s decision to lower transit fees 30% from March to June. Other causeways that might compete with the Suez Canal are only a seasonal fad doomed to end once oil prices pick back up again, said an analyst with PricewaterhouseCoopers. The Suez Canal remains the most convenient geographic causeway, said Julian Smith, PwC’s Global Transport and Logistics industry leader.

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