New Suez Canal to promote world trade, navigation

The New Suez Canal will contribute to promoting the world trade and navigation, Egypt's Ambassador to Uganda Ahmed Abdel Aziz said on Monday.

"Egypt sees that the new canal will open new horizons for investments and facilitate trade between the east and west," he said during a meeting with representatives of Ugandan media outlets to discuss the new waterway.

"The achievement and opening of the project in a record time impressed the world," the diplomat was quoted in a statement issued by the embassy as saying.

On Thursday, Egypt's President Abdel Fattah El Sisi inaugurated the New Suez Canal in a great celebration attended by world leaders.

The new 72-kilometer waterway, dug in less than a year at a cost of 60 billion pounds, runs part of the way alongside the existing canal connecting the Red Sea and the Mediterranean.

The legendary project was financed by investment certificates sold to Egyptians.
Source: MENA