Sisi Emphasizes Commitment to Strengthening Cooperation with BRICS Nations

Photo : Egypt Media Office

Egyptian President Abdel Fattah El-Sisi emphasized the nation's commitment to the principles and objectives of the BRICS bloc during the second session of the BRICS summit. He articulated Egypt's dedication to fostering cooperation among member countries to enhance their roles in establishing security and stability, boosting global economic growth, and achieving the Sustainable Development Goals (SDGs).

El-Sisi pointed out that the expansion of BRICS membership at the start of the year demonstrates the bloc's commitment to increasing multilateral cooperation and advocating for the interests of developing nations in various international and regional forums. He highlighted Egypt's support for enhanced consultation and coordination among BRICS nations, particularly in addressing shared international challenges such as climate change, access to concessional financing, food security, rising poverty levels, hunger, and the widening digital and knowledge gap.

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In his address, El-Sisi stressed the need to advance cooperation frameworks for financial settlements in local currencies. He advocated for leveraging the comparative advantages of BRICS countries to initiate joint economic, investment, and development projects, especially in agriculture, industry, digital transformation, and renewable energy. He also expressed support for the crucial roles played by the BRICS Business Council and the BRICS Women’s Business Alliance in promoting cooperation between the private sector and business leaders across member states, as these groups are essential partners in achieving sustainable development.

Furthermore, El-Sisi underscored that the shortcomings of the current international system extend beyond political and security concerns to include economic and developmental challenges. He pointed out that developing nations are grappling with escalating debt issues and a lack of necessary funding to meet the SDGs, alongside high financing and borrowing costs. Consequently, he stressed the importance of taking actionable steps to ensure the international community fulfills its responsibility to provide soft financing for development in these countries. He called for the establishment of innovative and effective financing mechanisms and comprehensive strategies to manage the sustainable debt of developing nations.

Egypt maintains a strong belief in the necessity of bolstering the multilateral international system, with the United Nations and its agencies at the forefront. El-Sisi affirmed that this approach is vital for preserving the gains of peace, stability, and development, and serves as a robust guarantee for maintaining international peace and security.