Egypt plans to allot land to Indian industries in Suez Canal Special Economic Zone.

  • In January 2023, Egypt is considering allotting a special zone to Indian industries in the Suez Canal Economic Zone (SCEZ) and the Indian side may prepare a master plan for the same.
  • Prime Minister Modi and the President of Egypt agreed to encourage businesses to explore mutually emerging economic and investment opportunities.
  • The trade between India and Egypt currently exceeds $3.15 billion.

About the Suez Canal :

  • The Suez Canal is an artificial sea-level waterway running north to south from the Isthmus of Suez in Egypt to connect the Mediterranean Sea and the Red Sea. This canal separates the continent of Africa & Asia.
  • It provides the shortest sea route between Europe and the lands surrounding the Indian and Western Pacific Oceans.
  • The Suez Canal is one of the busiest trade routes in the world. About 12% of the world’s total trade passes through this canal daily.
Scroll to Top