CAIRO – 26 February 2024: Minister of Finance, Mohamed Maait, will be participating in the upcoming meetings of the BRICS Finance Ministers and the Board of Governors of the New Development Bank. During these discussions, he will reassess Egypt's approach to global economic challenges.
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.
Additionally, he will emphasize the importance of enhancing the responsiveness of the multilateral development bank system to international crises.
Moreover, the minister will highlight Egypt's vision for the international tax system, aiming to align it with the technological advancements that have shaped the world in recent decades.
As part of his commitment to fostering collaboration, Maait will hold bilateral meetings with fellow finance ministers from the BRICS countries and the G20 countries. These meetings will serve as a platform to explore potential areas of cooperation and strengthen ties.
Furthermore, Maait will delve into the government's efforts over the past decade to create a favorable investment environment for the private sector, which is a key driver of economic growth. The objective is to expand investment opportunities both domestically and internationally.
Notably, the recent agreement between Egypt and the United Arab Emirates to enhance the development of Ras El Hekma city underscores Egypt's dedication to attracting investments.
With Egypt officially joining the BRICS bloc in 2024, alongside Saudi Arabia, the UAE, and other nations, a new era of economic promise begins. This move is expected to open doors to increased global influence and investment prospects.
President Abdel Fattah El-Sisi expressed his optimism about cooperating and coordinating with fellow bloc members and other invited countries to strengthen economic cooperation and achieve shared goals.
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