The New Suez Canal and Its Impact on the Egyptian Economy
Table of Contents
Executive Summary 2
Issues Involving the New Suez Canal 3
Benefits of the New Suez Canal 4
Critical Queries 5
Ongoing Process 7
My Opinions and Predictions 7
Bibliography 11
Executive Summary
In recent months, the additions to the Suez Canal have been leading to much discussion and speculation in the international community. Egypt is one state that is eager to see the completion of this project, as it is hoping to increase exports and its overall trading with other countries. As it currently stands there is only one trade route that Egypt uses. This route connects the Red Sea to the Mediterranean. The new and improved version of the Suez Canal would allow for another route and increase trade in Egypt. Many in Egypt and in the Middle East are hopeful that this will lead to greater prosperity and development in the region. They see the potential for increased exports, as well as easier access to imports, and the potential for new trading partners. On the other hand some are worried about political and military tensions in that part of the world. These high tensions between countries such as Iran and Israel could lead to instability in the region, and some critics are concerned that all of this will have negative impacts on the Egyptian economy. This report will discuss the proposed project in the New Suez Canal as well as the potential impacts on the Egyptian economy. Furthermore, it is my opinion that Egypt ought to continue with this project and strive for economic growth and development.
Issues Involving the New Suez Canal
Over the past three to four years the Egyptian economy has gone through difficult periods. The Egyptian revolution of 2011 led to dramatic changes in the country as well as political unrest and economic volatility. Many people in Egypt believe that all of the recent unrest has made the Suez Canal even more important than before. There is an urgency to get this project going. Furthermore, it is the sole route of trade
Executive Summary 2
Issues Involving the New Suez Canal 3
Benefits of the New Suez Canal 4
Critical Queries 5
Ongoing Process 7
My Opinions and Predictions 7
Bibliography 11
Executive Summary
In recent months, the additions to the Suez Canal have been leading to much discussion and speculation in the international community. Egypt is one state that is eager to see the completion of this project, as it is hoping to increase exports and its overall trading with other countries. As it currently stands there is only one trade route that Egypt uses. This route connects the Red Sea to the Mediterranean. The new and improved version of the Suez Canal would allow for another route and increase trade in Egypt. Many in Egypt and in the Middle East are hopeful that this will lead to greater prosperity and development in the region. They see the potential for increased exports, as well as easier access to imports, and the potential for new trading partners. On the other hand some are worried about political and military tensions in that part of the world. These high tensions between countries such as Iran and Israel could lead to instability in the region, and some critics are concerned that all of this will have negative impacts on the Egyptian economy. This report will discuss the proposed project in the New Suez Canal as well as the potential impacts on the Egyptian economy. Furthermore, it is my opinion that Egypt ought to continue with this project and strive for economic growth and development.
Issues Involving the New Suez Canal
Over the past three to four years the Egyptian economy has gone through difficult periods. The Egyptian revolution of 2011 led to dramatic changes in the country as well as political unrest and economic volatility. Many people in Egypt believe that all of the recent unrest has made the Suez Canal even more important than before. There is an urgency to get this project going. Furthermore, it is the sole route of trade
Bibliography: Egypt 's second Suez Canal plan sparks concerns. (n.d.). Retrieved November 14, 2014, from http://www.channelnewsasia.com/news/world/egypt-s-second-suez-canal/1362578.html Challenges to and challengers of the Suez Canal Suez Canal boss explains expansion plan, defends pricing. (n.d.). Retrieved November 14, 2014, from http://www.seatrade-global.com/news/asia/suez-canal-boss-explains-expansion-plan-defends-pricing.html