“Maritime transport is the backbone of international trade and the global economy. Over 80 percent of the volume of international trade in goods is carried by sea,” according to the United Nations Conference on Trade and Development (UNCTAD).
Coastal nations have varying degrees of economic importance based on their geographic location. The region of West Asia – from the Mediterranean Sea to the Persian Gulf – holds key strategic significance as the gateway between Asia and Europe’s economies. Its unique geographic position drives investment in infrastructure – to attract major economies into relying on its passageways, and to solidify the region’s role in transportation of goods between the two continents.
And they threw dust on their heads and were crying out, weeping and mourning, saying, ‘Woe, woe, the great city, in which all who had ships at sea became rich by her wealth, for in one hour she has been laid waste!’