Diplomatic Trade Ltd. Via its Chairman & CEO Mr. Benjamin Ballout Announces Suspension of Ongoing Negotiation with Suez Canal Authority and ETP 200 Factory-Egypt

NEW YORK, July 13, 2023 /PRNewswire/ — Diplomatic Trade Ltd., a leading global company, and its Chairman and CEO, Mr. Benjamin Ballout, have made the decision to suspend the ongoing negotiation with the Suez Canal Authority and ETP 200 Factory-Egypt for commercial support and developments in the modernization of the Suez Canal and the EV fabrication, along with forex trade support.

This decision comes after a careful and thorough evaluation of Diplomatic Trade Ltd.’s business strategies and priorities. While the negotiation process has been progressing, the company has determined that it is in its best interest to suspend the discussions at this time.

It is important to note that the suspension of the negotiation is not a reflection of the capabilities or reputation of the Suez Canal Authority or ETP 200 Factory-Egypt. Diplomatic Trade Ltd. holds the utmost respect for the Suez Canal Authority and its senior command, as well as General Osama Rabea and General Maged Gamal Eldeen of ETP 200 Factory-Egypt.

Additionally, Mr. Benjamin Ballout regrets to announce the cancellation of its agreement with Visionary Vehicles, Inc., a renowned car brand company led by Mr. Malcolm Bricklin, Co-Chairman, and Co-Chief Executive. We would like to express our sincere appreciation for the time, effort, and resources invested by Visionary Vehicles, Inc. in the negotiation and collaboration process. Their commitment to innovation and expertise demonstrated throughout our discussions has been commendable.

Diplomatic Trade Ltd. remains committed to its core values of integrity, professionalism, and excellence. The company will continue to explore new opportunities and collaborations that align with its business strategies and objectives.

For further inquiries or information, please contact:
Mr. Benjamin Ballout
Diplomatic Trade Ltd.



About Diplomatic Trade Ltd.

Diplomatic Trade Ltd. is a leading global company engaged in various industries, mining, commodity trade, robotic & INSURTECH services. With a commitment to innovation and customer satisfaction, Diplomatic Trade Ltd. strives to deliver high-quality solutions to its clients worldwide. For more information, visit www.diplomatictrade.com

SOURCE Diplomatic Trade