Chairman of the Suez Canal Economic Zone (SCZone) Yehia Zaki signed on Monday with General Manager of the Colón Free Zone Administration Giovanni Bruno Ferrari a cooperation agreement in the presence of Assistant Foreign Minister for Latin American Affairs Ashraf Mounir and Panama’s Ambassador in Cairo Alejandro Iván Mendoza.

In a statement, SCZone said the agreement aims to enhance cooperation between the two zones and exchange information to lure investments to their industrial, trade, and logistics zones as well as introducing investment opportunities in the SCZone and its six ports on the Red and Mediterranean Seas.

The deal aims to explore opportunities in Panama from which Egyptians could benefit as Panama is a gate for the Latin market which includes 650 million people.

Ferrari said the cooperation with the SCZone is a new beginning for cooperation between the two countries, which leads to exchanging expertise in the investment domains, noting the cooperation will enable Colón Free Zone to benefit from the SCZone as a pivotal point in the Middle East and Africa for trade exchange.

This cooperation represents an opportunity for investors in Egypt and the Middle East to get acquainted with investment chances in Latin America.

Source: State Information Service Egypt