WeCare is a body dedicated to promoting global trade security and efficiency, striving to address pressing challenges in maritime commerce and facilitate sustainable solutions for the benefit of all stakeholders through collaborative efforts with industry stakeholders as well as governments.
“Amidst escalating trade concerns, it’s imperative for governments worldwide to reinforce maritime security protocols. With over $80 billion in cargo diversions and mounting delays, urgent collective action is needed to ensure the safety and efficiency of Red Sea trade routes,” said Saad Kassis Mohamed, Chairman of WeCare.
Already, according to a statement from WeCare, retail and garment industry associations are calling for enhanced security measures along the Red Sea amidst growing trade apprehensions.
With escalating rates, delays and substantial cargo diversions exceeding $80 billion, more than 100 business entities representing retail, apparel and affiliated sectors have jointly advocated for governments worldwide to strengthen security protocols along the Red Sea trade pathways, it noted.
In a collective effort, over 100 leading business associations spanning apparel, retail, footwear, and related industries united recently to voice their concerns in an open letter, endorsed upon by WeCare. The 8 February, 2024 letter, emphasized the urgent need for coordinated international efforts to ensure the safe and efficient navigation of vessels along these crucial maritime routes.
According to the letter, there remains a threat from terrorism, particularly in the Sinai Peninsula.
As of Mar 2024, risks to aircraft operating over the Sinai Peninsula and the Red Sea may also be increasing due to the surrounding conflict in Israel/Gaza, said a release extended to Sudans Post.
Also, it said, there have been several incidents of missiles and drones launched over the Red Sea.
Meanwhile, the February 8, 2024 letter further highlighted the adverse effects of recent route deviations, which have led to port congestion, equipment shortages, and inflated shipping costs.
Among the prominent signatories to the appeal, it said, were the American Apparel & Footwear Association, the U.S. Fashion Industry Association, the National Retail Federation, and the American Association of Port Authorities, along with numerous other influential stakeholders.
If said the disruptions in Red Sea shipping, triggered by attacks on vessels by insurgents, have evoked varied responses from affected industries, prompting calls for coordinated intervention.
Notably, however, the February 8 letter endorsed Operation Prosperity Guardian, a multinational initiative aimed at bolstering maritime security in the region.
Therefore, while underscoring the importance of maritime safety for global economic stability, the coalition emphasized the necessity for global governments to adopt a zero-tolerance approach towards assaults on commercial ships and seafarers, both in the Red Sea as well as worldwide.
The appeal also underscored the economic magnitude of disruptions that occur while shipping.
Citing the resilience of the industry, analysts cautioned that retailers heavily reliant on global sourcing networks may face heightened vulnerabilities due to disruptions in Red Sea trade routes.
