Egypt's participation in G7, TICAD summits help attract investments: Amb.

CAIRO – 23 August 2019: Ambassador Mohamed Hegazy, former assistant foreign minister, said Egyptian president's participation in the G7 summit and the 7th TICAD summit in Japan in one week will provide an important opportunity to consult with leaders of major countries.

It will also contribute to conveying the concerns, issues and challenges facing that African nations to the most important International economic and development forums, Hegazy told MENA in an interview.

President Abdel Fattah Al-Sisi will head Saturday to France’s Biarritz for participating in the 2019 G7 Summit, due on August 24-26 be and chaired by France.

Egypt, after completing its economic reform program, would be seen by the two summits as a promising investment opportunity, Hegazy said, adding that this would grant Egypt much gains, including attracting investments at the economic level.

The outcome of the meeting will also help Egypt strengthen bilateral relations and support its economic in general.

Sisi’s invitation comes in light of Egypt’s chairmanship of the African Union. The G7 Summit comes under theme “Fighting Inequality.” G7 stands for seven countries (U.S., the UK, Japan, Italy, Germany, France and Canada), which represent 40% of the global GDP, according to the official website of the Elysee.

France had previously hosted the G7 summits for six times since the establishment of the group in 1975 to tackle global issues of peace, security, health, education, environment, climate change, counterterrorism, etc.

In October 2017, President Abdel Fatah al-Sisi paid France a four-day official visit, during which he tackled bilateral and international and regional issues with French counterpart Emmanuel Macron in Elysee Palace.

On January 28, 2019, Macron paid Egypt a three-day visit, during which the bilateral relations, as well as the crises in Syria, Libya, Palestine, and Africa were discussed.