Naucratis or Naukratis was a city and trading-post in ancient Egypt, located on the Canopic branch of the Nile river, south-east of the Mediterranean sea and the city of Alexandria. Naucratis was the first and, for much of its early history, the only permanent Greek settlement in Egypt, serving as a symbiotic nexus for the interchange of Greek and Egypti…Naucratis or Naukratis was a city and trading-post in ancient Egypt, located on the Canopic branch of the Nile river, south-east of the Mediterranean sea and the city of Alexandria. Naucratis was the first and, for much of its early history, the only permanent Greek settlement in Egypt, serving as a symbiotic nexus for the interchange of Greek and Egyptian art and culture.