The “Biden Corridor” will only take away a tiny piece of the Suez Canal’s transit flow, no more than 0.1 percent, the Chairman of the Suez Canal Authority Osama Rabie, assured.
The “Biden Corridor” was recently announced at the G20 summit in New Delhi between India, the Middle East, Israel, and Europe.
In television statements on Monday, Rabie explained that the proposed corridor, which includes land roads, railways, and complex sea routes, will take longer to transport goods which in turn leaves them more vulnerable to potential damage along the way.
The Suez Canal’s maritime transport wins out in terms of cost, safety and speed compared to the new corridor, he added.
Due to the length of time it will take to finish the proposed corridor and its costs, Rabie explained that it will not provide any serious risk to the Suez Canal.
