Senior officials from different ministries and exporters are expected to hold discussions on March 8 here on issues being faced by exporters due to the Red Sea crisis, an official said.
The official said this would be the third meeting on the issue.
Since November, Yemen-based Houthi rebels have targeted ships in the Red Sea and surrounding waters over the Israel-Hamas war.
In December, the situation around the Bab-el-Mandeb Strait, a crucial shipping route for traders connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, escalated due to these attacks.
Because of this, the shipping costs have jumped and consignments are taking more time to reach Europe and the US as the ships are taking the Cape of Good Hope route, encircling Africa. Longer routes are resulting in delays of about 14-20 days and also higher freight and insurance costs.
Representatives from ministries including finance, shipping and external affairs are expected to attend the meeting on March 8.

By info

Related Post