Fortune Magazine: New Suez Canal: Great Step for New EgyptSource: www.export-egypt.com 8/9/2015, Location: Africa |
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The US Fortune Magazine said that success of the New Suez Canal that was launched in Egypt on Thursday can’t be measured through the number of ships transiting the international waterway or its revenue alone. The new canal is also meant to inspire confidence in Egypt’s return to democracy, added the magazine.
"The Egyptian government wants you to know that it is, finally, re-open for business. Four years after the Arab Spring destabilized this country of 90 million, Egypt’s new leaders hope that Thursday’s grand opening of the New Suez Canal will serve as a tangible symbol of the country’s resurrection from political chaos", added the magazine. The sweltering heat didn’t deter Egyptians from hitting the streets in droves on Thursday to celebrate the grand opening of the New Suez Canal. While it helped that the country’s new leader, Abdel Fattah El Sisi, declared the day a national holiday, there was, nonetheless, a true sense of excitement and joy amongst Cairo’s 20 million people in response to the opening of the new 30-mile waterway. French President François Hollande was in attendance, as was Russian Prime Minister Dmitry Medvedev, King Abdullah of Jordan, the king of Bahrain and the Emir of Kuwait. U.S. Secretary of State John Kerry was not in attendance, but he was in Cairo earlier in the week, giving what some believe was tacit approval of the project, added the magazine. President Sisi proclaimed in a lengthy speech yesterday that the new canal, which runs parallel to the existing Suez Canal, is Egypt’s “gift to the world,” as it will help bolster international trade and commerce. |
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