Diplomatic tension between Ethiopia and Somalia has reduced trade in the Suez Canal.
Egypt has raised this complain after almost two weeks of increasingly tense relations between Ethiopia and Somalia.
The tension kicked off when Ethiopia agreed to grant Somaliland international recognition.
In the agreement signed on January 1, 2024, Somaliland would allow Ethiopia to take charge of 20kms of one of its major seaports.
Since then, Somalia has expressed its displeasure and anger at this move repeatedly.
According to Egypt, tension has caused a 40% reduction in revenue from the Suez Canal.
Furthermore, the rate of ship transit has reduced by as much as 30% in the same period compared to January 1-11, 2023.
Last year, 777 ships crossed the Suez canal in the first 11 days of 2023.
This year, the number reduced to 544 ships, as per the figures provided by Egypt.
