Federal Councillor Schneider-Ammann at Suez Canal opening ceremony in Egypt
Bern, 03.08.2015 - Federal Councillor Johann N. Schneider-Ammann will be representing Switzerland at the official opening of the newly expanded Suez Canal in Ismaïlia, Egypt on 6 August 2015. The economics minister and vice-president of the Federal Council will also be holding bilateral talks with heads of state and government whilst in Egypt.
In a major project costing an estimated USD 8.4 billion, Egypt has expanded and widened the Suez Canal in order to double its capacity. About 10 per cent of global shipping already passes through the Suez Canal. The Egyptian government has invited numerous heads of state and government to the official opening ceremony on 6 August.
In 2014 Egypt was Switzerland’s principal export market on the African continent and its fifth largest trading partner, with an overall trade volume of approximately CHF 1.13 billion. At the end of 2013, direct investments by Swiss investors in Egypt amounted to over CHF 2 billion and Swiss companies employed more than 31,200 people in the country. Egypt is also a priority country in the State Secretariat for Economic Affairs (SECO)’s economic development cooperation programme. Switzerland thereby contributes to promoting the Egyptian economy and fostering democracy in the country.
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