Egypt Inks Agreement With Italy for Ro-Ro Cargo LineSource: www.export-egypt.com 1/22/2024, Location: Africa |
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Egypt signed an agreement with Italy for cargo transport through the roll-on/roll-off (Ro-Ro) system capacity of 420 trucks every week between the ports of Damietta and Trieste, according to a statement .
Ro-Ro cargo shipping is a type of shipping that involves driving cars or other items onto a special vessel at the origin and rolling them off at the destination. This method is very popular for usage with machinery, cars, trucks, and agricultural machinery. The agreement will support the trade exchange between Egypt and Italy. In 2019, the two countries formed committees to consider measures to facilitate the agreement, including reducing customs tariffs, Egyptian Minister of Transportation Kamel El-Wazir said. He added that all obstacles to land transport have been resolved and what remains under discussion is agreeing on crops that will be exported from Egypt to Italy. Ro-Ro is a type of ships that allow products to roll on and off the vessel, as opposed to being lifted on board using cranes. Self-propelled products, such as cars and tractors, roll on and off the vessel on their wheels. Trade between Egypt and Italy reached $5.8 billion in 2021, up from $4.5 billion in 2020, according to the Central Agency for Public Mobilization and Statistics. Italian investments in Egypt rose by 40.3 percent to $448.8 million during the first quarter of FY2021-2022 (July-September), compared to $320 million during the last quarter of FY2020-2021 (April-June). |
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