Egyptian, Dutch FMs discuss boosting green transformation investments, Ukraine crisis

CAIRO – 19 September 2022: Egypt’s Foreign Minister Sameh Shoukry affirmed to his Dutch counterpart, Wopke Hoekstra, pumping further investments into the Egyptian market especially in the field of green transformation.

This comes in light of the current attractive investment climate in Egypt, Shoukry said in a meeting with Hoekstra on Monday on the sidelines of upcoming United Nations General Assembly (UNGA).

Shoukry and Hoekstra discussed international issues of mutual concern, including the developments of the Ukraine crisis and its economic impacts on the developing and African countries as well as the current geostrategic situation.

Shoukry, also president-designate of the United Nations Climate Change Conference (COP27), also replied to the inquiries of his Dutch counterpart regarding preparations for the conference, scheduled for November in Egypt’s Sharm El-Sheikh city.

The Egyptian foreign minister reviewed with Hoekstra the Egyptian COP27 presidency’s vision, affirming the need for the international community to agree on a clear work plan that achieves the goals and aspirations of the international climate action.

The ministers also discussed enhancing the bilateral relations between Egypt and Netherlands.

Egypt is preparing to host COP27 between 6 and 18 November and has been keen to build on the success of Glasgow summit (COP26) in a bid to turn climate pledges into actions.

The Egyptian presidency of COP27 will adopt a clear approach to implement the Paris Agreement at an accelerated pace by addressing the gaps and deficiencies in the global system dealing with climate change, Shoukry announce earlier in September.

During the International Cooperation Forum (ICF) 2022 in the Administrative Capital, Shoukry said COP27 will also enhance trust amongst all parties as each state implements the Paris Agreement.

The geopolitical crisis that has resulted from the Russian-Ukrainian conflict includes global soaring prices of energy, food, and interest rates, Shoukry said.

IFC is held by the Ministry of Foreign Affairs and the Ministry of International Cooperation only a couple of months ahead of COP27 to connect the two conferences as Egypt believes that all institutions, including international financial institutions and multilateral development banks, must cooperate for successful climate action, he added.