Egyptian President Abdel Fattah al-Sisi, signed a charter today in a ceremony to mark the inauguration of the new Suez Canal in the presence of UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and his accompanying delegation, along with a number of Their Majesties Kings, Presidents, Emirs and other world leaders.

Egyptian President thanked the world leaders for their participation in the inauguration ceremony, saying that "Egypt offers to the world a gift for development and construction."

He stressed that Egypt completed the canal project, which is the first step in a series of others to come, "under critical circumstances," commending the Engineering Authority, the Suez Canal Authority, Contracting companies and the Consortium of Dredging Companies, which contributed to the success of this feat.

President el-Sisi added, "The launch of maritime traffic in the channel, highlights the goal sought by Egypt to achieve security and stability in a democratic state."

He said that Egypt engaged the most serious terrorist thought, adding that "If it continued, it would burn the earth and the world," stressing that "we are winning the war on terror by insisting to live." El Sisi said, "Egypt's young people are capable to innovate and deliver."

President el-Sisi underscored that "this nation deserves a lot from us. If people are able to dream, then they are capable to deliver."

He then gave the signal to start the Suez Canal, saying, "In the name of God the Merciful and on behalf of the great people of Egypt, we Abdel Fattah al-Sisi. President of the Arab Republic of Egypt, we give instructions to start the new Suez Canal."

The documentary film was screened. It showed the drilling stages of the new canal since the announcement of the start by the Egyptian president a year ago. The efforts continued day and night to accomplish the new canal, which is Egypt's gift to the world.

Egyptian Air Force performed aerial show with the participation of Rafale and F-16 aircraft, while the governorates of Egypt's presented the popular artistic heritage- each governorate presented a painting rich with themes of originality and mixed with joy.

The project aims to increase Egypt's national income of hard currency. It will reduce the transit time to 11 hours instead of 18 hours, as well as reduce the cost of the voyage.

The Egyptian authorities expect the Suez Canal revenues will increase by 259% in 2023 to US$13.2 billion, compared to current US$ 5.3 billion.