Egypt aspires to be active, influential member of BRICS, says PM

CAIRO – 24 August 2023: 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.

Madbouli made the remarks during a speech he delivered on Thursday at a high-level dialogue session on cooperation between Africa and BRICS that was held on the fringes of the 15th BRICS summit.

The prime minister is taking part in the summit on behalf of President Abdel Fattah El Sisi.

Madbouli said Egypt welcomes all initiatives and projects that aim to achieve mutual interests and build a sustainable partnership.

He added that Egypt is looking forward to being an active and influential member of the bloc as well as contributing to its efforts meant to find practical, effective and implementable solutions to the challenges suffered by “our countries”.

This requires intensifying joint action within the framework of South-South cooperation, he noted

The high-level dialogue session was held within the framework of the “BRICS Plus” plan under the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism”.

During his speech, Madbouli expressed thanks to South African President Cyril Ramaphosa for his country's hosting of the 15th BRICS summit amid exceptional conditions experienced by the world, which include unprecedented complications that significantly affect developing countries and their economies.

The prime minister also welcomed the step taken by BRICS to expand itself, which he said would contribute to helping the bloc be more effective and more capable of expressing its visions at the international level.

Madbouli noted that Egypt has been keen to strengthen its relations with BRICS nations over the past years through participating in the sessions held as part of the BRICS Plus plan. He added that Egypt also joined the bloc's New Development Bank in 2021.

Madbouli reviewed Egypt's vision as regards areas to focus on within the framework of cooperation between the BRICS bloc and developing countries in the current stage.

He said Egypt's vision includes the need to intensify joint efforts to address the food crisis, which he described as one of the most significant risks facing developing countries, and its consequences.

This can be achieved by coordinating and intensifying efforts as part of regional and international multilateral action to meet the needs of developing countries, the prime minister added.

The vision also contains developing the sectors of agriculture and food industries, transferring and localizing technology, building capacities, and improving infrastructure in rural areas, he noted.

It also includes transferring agricultural technology as well as modern, sustainable irrigation systems, he pointed out.

In this regard, Madbouli said Egypt is ready to host a global hub for the supply and storage of grains - in cooperation with the international community - in a way that contributes to facing the global food crisis.

The prime minister added that Egypt's vision also contains working to reform the international economic and financial structure to make it more equitable, just and responsive to the needs of developing countries, including middle-income ones.

It also includes developing mechanisms to reduce the burden of external debt, through exemption, swap or easy payment, in addition to proposals related to the governance of the global financial system, he noted.