Egypt launched 1st of Gosoor project to promote foreign trade between Egypt and African countries

Daily News Egypt
2 Min Read

The first phase of the Gosoor (bridges) project has been launched by operating a maritime shipping route with regular weekly flights at discounted prices from Ain Sokhna Port to Kenya’s Mombasa Port, ensuring access to about 10 African countries, according to Egypt’s Minister of Public Enterprise Sector, Hesham Tawfik.

The project adopted by Egypt’s Ministry of Public Enterprise Sector aims to promote trade between Egypt and the countries of East and Central Africa. Gosoor includes the provision of transport and logistics services for foreign trade dealers through subsidiaries operating in the fields of insurance, maritime, and land shipping.

 Tawfik continued that the second phase of the project is scheduled to be completed in the second quarter (Q2) of 2020. It includes the services of road transportation for goods, customs clearance, the establishment of permanent warehouses and exhibitions for goods abroad, and the establishment of a brokerage and marketing companies in cooperation with the private sector.

His remarks came during his speech at the opening of the “Governance Index in Africa” conference as part of the Mo Ibrahim Foundation initiative, organised by the Egyptian Centre for Economic Studies.

The Minister confirmed that the government is working on developing governance rules and policies of good governance for public sector companies affiliated with the Ministry, to enhance disclosure and transparency procedures.

Share This Article