What were the economic foundations of minoans and Phoenicians similar?

The economic foundations of the Minoans and Phoenicians were similar in their reliance on maritime trade and commerce. Both civilizations developed extensive trade networks across the Mediterranean, exchanging goods such as textiles, pottery, and metals. Their economies were bolstered by skilled craftsmanship and the production of luxury items, which facilitated trade with various cultures. Additionally, both societies utilized their geographic locations strategically, leveraging their coastal positions to enhance trade activities.