BRICS
Maait will present Egypt's perspective on various aspects, including the need for the global financial structure to accommodate the requirements of developing and emerging nations.
This is the first competition related meeting hosted by Egypt after its official joining of the BRICS group earlier this year.
Egypt's membership in the BRICS activated on Monday, which was welcomed by Russia, current chair of the group.
Egypt’s Minister of Foreign Affairs Sameh Shoukry hailed emerging economies grouping BRICS expansion late in August to include Egypt as a “very important development.”
Egypt’s Foreign Minister Sameh Shoukry on Friday held a meeting with his Brazilian counterpart Mauro Vieira on the sidelines of the high-level meetings of the 78th session of the United Nations General Assembly (UNGA) in New York.
"While I'm not fully aware of the negotiations that led to Egypt's inclusion, I know that the foreign ministers of the five countries engaged in extensive talks for several months," Mabuza said.
The study prepared by the researcher Asmaa Refaat showed that Egypt reaps a number of benefits from Egypt's accession to the BRICS bloc.
The BRICS Summit 2023, which was held during the past three days in its fifteenth session in Johannesburg, South Africa, culminated in announcing the expansion of the base of members to include: Egypt, the Emirates, Saudi Arabia, Argentina, Iran and Ethiopia.
Egypt is scheduled to join the BRICS bloc of developing nations along with five other countries starting January 2024.
Egyptian Prime Minister Mostafa Madbouli has affirmed Egypt’s aspiration to promote cooperation and proceed with joint work with member states of the BRICS bloc in various fields at the bilateral and multilateral levels.
The Declaration was given at the BRICS Summit 2023, which was held in South Africa on Thursday. The Bloc, which consists of Brazil, Russia, India, China and South Africa, will be joined by other six countries.
“On the occasion of the 15th anniversary of BRICS, we have taken the decision to expand this forum. India has always fully supported this expansion. Such an expansion will make BRICS stronger and more effective,” said Modi on his X (formerly known as Twitter) account, on Thursday.
South African President Cyril Ramaphosa declared an invitation to Egypt, Argentina, Saudi Arabia, and UAE to be full members at BRICS as of January 1, 2024. The president also declared the outcome of the 15th BRICS summit.
Egypt's strategic move to join the BRICS alliance underscores its commitment to shaping a more balanced and multipolar global economy.
The IDSC pointed out that BRICS is a global economic bloc whose concept of establishment was initiated in 2006.
“I value the declaration by the BRICS group to invite Egypt to join its membership as of January 2024. We appreciate the confidence of all BRICS member states with whom we share robust relations,” said President El-Sisi on Thursday.
With this expansion, the first since South Africa joined the group in 2010, the number of member countries will increase to 11, adding to the original five members: Russia, South Africa, Brazil, India, and China.
On his Facebook account, the diplomat expressed the Chinese side' readiness to work together with BRICS partners to enhance strategic partnership and deepen cooperation in all domains.
The new members will join BRICS as of January 1, 2024.
Egyptian Prime Minister Moustafa Madbouli arrived in Johannesburg, South Africa, earlier Wednesday to attend the 15th summit meetings of the BRICS.
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