Singaporean diplomat voices interest in New Suez Canal

A Singaporean diplomat has voiced big interest in Egypt's New Suez Canal project.

It is a national project that has unified Egyptians, said Mugant Mehanathan, the first secretary at the Singaporean Embassy in Cairo, in statements to MENA Wednesday.

A progressive and developing Egypt has become even more attractive to investments, Mehanathan said.

He hailed as "historical" relations between Singapore and Cairo.

Egypt was the first Arab country to recognize Singapore after its independence in 1965, he noted.

The Singaporean diplomatic mission in Egypt is the biggest in the Middle East, the diplomat said.

He also touched upon Egypt's political weight in the region.

As many as 270 Singaporean students are studying Sharia at Al Azhar, he noted.

Mehanathan said the volume of trade exchange between the two countries reached 493 million dollars in 2014.

He expected trade exchange to increase now that the situation is more stable in Egypt.

Singaporean businessmen are showing bigger interest in investing in Egypt, which is witnessing a tangible economic and security improvement, Mehanathan told MENA.

He urged those who have questions about the security situation in Egypt to visit the country.

Mehanathan said he has been living in Cairo since 2012 and has sensed a big improvement in the security situation.

The Singaporean diplomat also talked about the successful Egypt Economic Development Conference (EEDC), which was held in Sharm el Sheikh mid March.

A high-ranking Singaporean delegation led by the minister of external and internal affairs, Masagos Zulkifli, attended the EEDC, Mehanathan said.

He made it clear that Zulkifli held talks with Prime Minister Ibrahim Mahlab and Foreign Minister Sameh Shoukry, as well as the ministers of trade and investment, on ways to increase investment and trade exchange between the two countries.

The high turnout for the event sent a clear message to the world that the Egyptian economy is rebounding, Mehanathan said.

According to him, Egypt is taking steady steps toward economic success.

Singapore is one of the world's major commercial hubs, the fourth-largest financial center and one of the five busiest ports.