Minister: Economic openness important to face global recession

International Cooperation Minister Rania el Mashat has underlined the need of having economic openness regionally and internationally to counter the current global recession.

In an interview with Sky News channel, the minister said on Saturday that economic power and commodities pricing are being reshaped amid growing demand on raw materials and food products.

Increased efforts need to be exerted to remove any obstacles standing in the path of stimulating the private sector investments and creating stronger regional cooperation, she said.

Diversity of financing is one of the important tools to overcome the current crises, she said, stressing that food security is also needed to be guaranteed.

The minister underscored the importance of promoting agricultural and agribusiness investments and enhancing regional and continental cooperation to overcome the challenges of food security.

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