In consequence of this great salvation, when the Lord Jesus is come, and hath fully finished it, the former deliverance from Egypt, which was but a type of it, shall then be done away, as the shadow is lost in the substance. Both the deliverance of the Church from Egypt, and the deliverance from Babylon were types of Jesus's deliverance from worse than Egyptian and Babylonian bondage. They were temporary, but this an eternal freedom. In allusion to this the Church is represented as singing, Revelation 18:2, etc.
Related Commentaries of Jeremiah 23:7
Jeremiah 23:7-8
7 Therefore, behold, the days come, saith the LORD, that they shall no more say, The LORD liveth, which brought up the children of Israel out of the land of Egypt;
8 But, The LORD liveth, which brought up and which led the seed of the house of Israel out of the north country, and from all countries whither I had driven them; and they shall dwell in their own land.