CAIRO – 23 October 2024: During the second expanded plenary session of the BRICS Summit, President Abdel Fattah El-Sisi reiterated Egypt's dedication to strengthening the multilateral international system. He highlighted Egypt’s efforts to promote development through innovative solutions, particularly addressing the growing debt issues faced by developing nations and the shortage of funding necessary to achieve sustainable development goals.
El-Sisi emphasized the crucial role of the New Development Bank in providing concessional financing for development projects in these countries. He also stressed the importance of advancing cooperation frameworks, particularly in financial settlements using local currencies, to establish more balanced and sustainable economic relationships.
The Egyptian president urged BRICS countries to leverage their comparative advantages to initiate joint projects in agriculture, industry, digital transformation, and renewable energy. He also noted how recent global developments have revealed not only political weaknesses but also severe economic challenges, underscoring the need for reform within the international system.
El-Sisi further highlighted the key role of the BRICS Business Council and the BRICS Women's Business Alliance in fostering collaboration between the private sector and business leaders across member nations. He views them as essential partners in advancing sustainable development and boosting global economic growth.
Egypt's participation in BRICS reflects a strong commitment to international cooperation, focusing on addressing global challenges that affect developing countries while promoting shared economic progress.
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