Egypt, a recent addition to the BRICS group, emphasized the significance of achieving sustainable development through inclusive growth, South-South cooperation, and multilateral partnerships at the 9th annual meeting of the New Development Bank (NDB) Board of Governors in Cape Town, South Africa.
Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation as well as Egypt’s Governor at the NDB, delivered a speech at the meeting held from August 28 to 31, themed “Investing in a Sustainable Future.” The gathering was attended by NDB President Dilma Rousseff, Governors from member countries, business representatives, and stakeholders. In her address, Al-Mashat expressed appreciation to South Africa for hosting the meeting and its continuous support of the NDB.
She highlighted Egypt’s recent inclusion in the BRICS group as evidence of shared visions and objectives among BRICS nations to promote inclusive growth through collaboration between emerging and developing markets.
According to Daily News Al-Mashat emphasized that Egypt is fully prepared to collaborate with partner countries to promote South-South cooperation and contribute to mutual prosperity and global development. She stressed the importance of establishing institutional frameworks for cooperation among BRICS countries to encourage efforts to attract more investments.
Furthermore, Al-Mashat stressed Egypt’s belief in the effectiveness of multilateral cooperation, particularly given its strategic location connecting Africa, Asia, and Europe. This role enhances Egypt’s participation in South-South economic cooperation and supports the global development agenda.
Al-Mashat discussed Egypt’s comprehensive economic reform program, implemented over the past decade, aiming to restore macroeconomic stability and promote inclusive and quality growth. While acknowledging significant achievements, including improved financial conditions, investor confidence, and job creation, she admitted challenges due to external shocks and global economic instability.
