Suez Canal Authority head, Mohab Mamish praised Saturday expansion of Panama Canal, during a press conference held by Panama's embassy in Cairo, Al Bawaba News reported. Mamish said that this project will increase the capacity of the Panama Canal and its ability to accommodate larger ships, which will have a significant impact on both the global economy and that of Panama's. He explained that Panama Canal and Suez Canal have a great role in the prosperity and growth of the global economy by speeding up the transfer of international trade, which is reflected positively in reducing transport costs. Furthermore, he pointed out that both canals are designed to provide outstanding service to mankind and keep up with the changes of the shipping market. He stressed that June 26, 2016, which marks the expansion of Panama Canal, would be a festival for all mankind, adding that the opening ceremony of the Panama Canal expansion project would serve as a mean to convey to the whole world that what unites the two canals is cooperation for international trade service.
