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‘Biden Corridor’ will only take 0.1% of Suez Canal’s trade: SCA chairman

The Chairman of the Suez Canal Authority, Osama Rabie, has assured the 'Biden Corridor' will only take away a tiny piece of the Suez Canal’s transit flow, no more than 0.1 percent.
20.09.23 | Source: Egypt Independent

The 'Biden Corridor', a new proposed trade route, anticipated to take away a mere 0.1 percent of the Suez Canal's transit flow. Osama Rabie, SCA Chairman, announced this at the G20 summit in New Delhi, enunciating the insignificant threat it poses to the Suez Canal's trade. The corridor, which comprises of land roads, railways, and sea routes, was deemed less efficient due to its longer transit time and higher susceptibility to potential damage. In contrast, Rabie highlighted the Suez Canal’s maritime transport's superior cost, speed, and safety. Despite the extensive resources required to establish the 'Biden Corridor', Rabie dismissed any substantial risk it could impose on the Suez Canal due to its lengthy time to completion and its heightened costs.