BRICS
President Abdel Fattah El-Sisi explained on Wednesday to Dilma Rousseff, President of the New Development Bank (NDB), Egypt’s vision on South-South partnerships in achieving national development.
Maait expressed optimism about acquiring the loan either by the end of 2024 or at the beginning of 2025.
Minister of Foreign Affairs Sameh Shokry attended Monday the meeting of BRICS' foreign ministers in Russia's Nizhny Novgorod.
Minister of International Cooperation Rania Al-Mashat emphasized the significance of hosting the forum, stating that it symbolizes Egypt's growing role within the BRICS group and underscores the country's commitment to leveraging innovative mechanisms for development
Shoukry will hold bilateral meetings with the foreign ministers of the participating countries to explore ways to enhance relations and cooperation
She emphasized Egypt’s advantageous geographical location and its ambition to become a prominent hub for trade, logistics, and smart logistics services, with investments over LE 10 trillion in infrastructure to support this goal.
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.
