Mohammed Ayesh, an economist, said Israel would benefit from poor management by Egyptian officials in the Suez Canal shipwreck crisis and delays in the return of trade to the canal, which is a major global trade corridor and 24% of global container trade.
He added during his participation in the “stock exchange program” on Al-Jazeera: “There is a new Israeli project to open an alternative waterway that could threaten Egypt and its future foreign exchange earnings.”
The economist explained that the continuing crisis encourages the Israelis to come up with the idea of ​​another waterway that they have proposed to the Emirati people after a normal agreement, based on the connection of the Mediterranean port of Ashdod with the waters of the Red Sea.
The economist confirmed that this angered the Egyptian authorities, who protested the project, calling it an attempt to “steal and seize more than a quarter of the revenue from the traffic of ships passing through the Suez Canal“, which it will reduce it and harm the Egyptian economy, which is suffering from many crises.
Aish said that the countries of the world are facing a new situation today, that when Egypt asks for an international solution to the crisis of the offending ships, this justifies them to encourage the idea of ​​building a waterway, and the desire of the Israelis to implement the project.
The economist emphasized: The shipwreck crisis has raised many questions, especially as the Suez Canal has generated $ 5.6 billion in revenue over the past year, while Egypt’s tourism sector, which previously generated $ 13 billion, During 2020, due to the Corona epidemic, it decreased by 69%, and in the same context, he stressed that the longer the Corona crisis and the closure of the Suez Canal continue, the lower the foreign exchange earnings of the Egyptian Treasury will decrease.
It is noteworthy that the management of the Suez Canal Authority has confirmed that the daily losses of the canal amount to 12 to 14 million dollars, while the insurance company (Allianz) said that the congestion in the canal can cause global trade losses of between 6 and 10 billion dollars.