Israel to rival Suez Canal

JERUSALEM – Agence France-Presse

Israel plans to build a rail link, offering a new trade route between Asia and Europe. AFP photo

Israel’s government gave the green light yesterday to the construction of the first rail link between its Mediterranean and Red Sea coasts, offering a new Asia-Europe trade route to compete with the Suez Canal.

“This is a strategic decision,” Prime Minister Benjamin Netanyahu told ministers. “In the coming decade, new [economic] powers will arise. It is within our power to create an alternative transport route bypassing the Suez Canal.” 

At an initial Cabinet meeting on the project last week, Netanyahu said the plan had “created very great interest” among China and India.