Why did Memphis serve as an important commercial center during the New Kingdom?

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During the New Kingdom, Memphis served as an important commercial center as Egypt became increasingly cosmopolitan due to expanded trade, foreign conquest, and travel.1

Although the city was not located directly on the Nile, it was connected to the river by a canal, facilitating trade and transport. Its strategic location also served as a gateway for travel routes extending across the land bridge toward Asia Minor. The city's commercial significance was further evidenced by the presence of specific residential quarters named for the foreign merchants, prisoners of war, and slaves who lived there, such as the "Field of the Hittites".12