CAIRO: A delegation of more than 40 British businesses accompanied by British Minister for the Middle East Tobias Ellwood sailed on the new Suez Canal Wednesday, the first foreign delegation to do so.
“With over £20 billion set to be invested over the next 15 years, the Suez Canal Development Project represents an enormous opportunity for Egypt and for British companies. It is my hope that some of the British companies with me today will be able to do business here and bring their great British expertise to make this project a success,” said Ellwood in a statement released by the British Foreign Ministry.
Mohab Mamish, head of the Suez Canal Authority, told reporters Tuesday that several development projects along the Suez Canal will be presented at Egypt’s Economic Summit in March.
Accompanied by more than 40 leading British companies, Ellwood arrived in Cairo Tuesday to discuss investment projects with the Egyptian government, according a statement issued Monday evening by the British Foreign Office.
Ellwood and the delegation arrived in Ismailia Wednesday to explore investment opportunities in the Suez Canal project, the British Embassy stated, adding this was the “largest British trade mission to come to Egypt in over 10 years.”