Finance Minister Ahmed Kouchouk said Egypt is working to deepen economic and financial cooperation among BRICS countries to advance innovation, development and employment for the benefit of the Global South.
Speaking at a meeting of BRICS finance ministers and central bank governors in India on Thursday, Kouchouk said member states would continue working together to create a more inclusive global economic environment that supports growth and mutual investment.
He called for granting greater priority and space for developing economies to strengthen their ability to achieve stability and growth. Geopolitical volatility, he noted, increases financing burdens, limits development opportunities and constrain economic activity in developing countries.
Kouchouk also called for a greater role for the New Development Bank in providing low-cost financing solutions and expanding the use of local currencies.
He stressed the importance of stronger tax cooperation among BRICS members to build a more advanced and equitable global system for emerging economies and reduce borrowing costs.
The minister said enhanced customs cooperation through Authorised Economic Operator programmes and capacity building would help boost trade.
He added that multilateral guarantees among BRICS countries could encourage private investment, reduce financing costs and strengthen financial infrastructure.
Kouchouk also highlighted the role of artificial intelligence and advanced technologies in supporting sustainable growth and the transition to a green economy.
He added that exchanging international expertise and experiences would encourage greater private sector participation in developing a strong portfolio of development projects.
