The Saudi Cabinet has authorized the Minister of Transport and Logistics Services to negotiate with the Egyptian side regarding a memorandum of understanding (MoU) for cooperation in the field of maritime connectivity.
This initiative aims to facilitate passenger transport across the Gulf of Aqaba between the Saudi Public Transport Authority and the Egyptian Ministry of Transport.
The Gulf of Aqaba, the eastern arm of the Red Sea, is nestled between the Sinai Peninsula to the east and the Arabian Peninsula to the west.
In addition to the coastlines of Egypt and Saudi Arabia on this gulf, it serves as the only sea outlet for both Palestine and Jordan on the Red Sea. The gulf is named after the city of Aqaba.
Spanning approximately 180 kilometres in length, the Gulf of Aqaba varies in width from 19 to 28 kilometres and reaches a depth of up to 1,850 meters at its deepest point, covering an area of about 239 square kilometres.
This proposed MoU highlights the ongoing efforts by Saudi Arabia and Egypt to enhance regional transportation and logistics, aiming to strengthen the economic and logistical ties between the two nations through improved maritime links.
In November, Saudi Arabia and Egypt teamed up to enhance and promote non-oil exports, marking a significant step in the deepening economic cooperation between the two nations.
The Kingdom unveiled plans to increase mutual trade with Egypt to $100 billion, said vice-chairman of the Federation of Saudi Chambers, Fayez Alharbi.
Alharbi said that 802 Egyptian companies are investing in Saudi Arabia and there are plans for more expansion in the kingdom.
