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The Suez Canal crisis impact on China’s foreign trade

Suez Canal Blocked
Suez Canal Blocked

The Suez Canal crisis impact on China’s foreign trade

Gao Feng said that as the Suez Canal resumes traffic in an orderly manner. First, China will pay close attention to subsequent developments and will work with other countries. Simplify cross-border logistics to ensure the stability of global industry and supply chains. Spokesperson of the Ministry of Commerce of China.

Second, Gao said on Thursday that although the Suez Canal blockade has affected. The shipments of some Chinese companies and caused fluctuations in related freight rates to a certain extent. Its impact on China’s foreign trade is sudden, short-term, and limited.

Third, although the Suez Canal is at a deadlock because of large container ships stuck in the major waterways. Moreover, Chinese traders have limited impact on their business, and many traders turn to more reliable alternatives, such as China-Europe freight train services, from Chinese factories to the European market. Necessities.

Finally, Since the development of the Suez Jam, the demand for long-distance trains in Central Europe has surged, and sometimes, freight rates have increased by 10% to 20%. Industry insiders said on Monday that this is especially true for high value-added products with tight delivery schedules, ranging from electronic equipment to virus protection products.

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Written by Hüseyin Ali

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