On the occasion of opening the New Suez Canal, the Egyptian Embassy in Washington held a reception to promote plans for developing the Suez Canal axis.

The reception was attended by more than 200 people, representing the US business community and think-tanks, in addition to a number of officials at the US administration, the International Monetary Fund and the World Bank, as well as representatives of the Egyptian community in Washington.

Egyptian Ambassador to the US Mohamed Tawfik explained how important is the New Suez Canal in increasing the capacity of Suez Canal with regard to the daily number of ships crossing the waterway as well as ship sizes.

He also highlighted economic benefits of the new canal, noting that it was only a step on the road to implement a long-term development plan in the area.

In a presentation, the Egyptian diplomat outlined, in detail, phases towards achieving the targeted logistics and industrial hub and available opportunities, calling on US companies to invest in these development projects.