Well, the bridge wouldn’t take any traffic from the Suez Canal; but I wholeheartedly agree — a big infrastructure project like this would transform the economies of the two nations.
That is, until some terrorist group blew a great big hole in it.
I wasn’t thinking so much the canal as anything that would go from East Africa to the Middle East by ground probably goes across the Sinai. But I would image that most goods are shipped via water or air at this point.