CAIRO – Senate Undersecretary Phoebe Fawzy said South Africa President Cyril Ramaphosa announcement that the BRICS Club of Emerging Nations would welcome six new members, including Egypt, is a recognition of Egypt’s political and economic position in the region and an affirmation of its promising role in the world economy.
In statements to MENA, Fawzy said Egypt’s joining the bloc would open new horizons for the national strategy for sustainable development embraced by the new republic amid unprecedented world crises.
She pointed out to the possibility of using currencies away from the dollar in the trade transactions among member states in a way that would establish a more balanced world regime.
The Senate member also noted that such invitation to Egypt reflected Egypt’s position in the African continent, in addition to Africa’s persistance on making a radical change in the world economy system.
She reiterated that the bloc has been successful over the past years in placing itself as a different economic system away from traditional international institutions which have been putting more burden on the emerging economies.
Fawzy also reiterated that the announcement is undoubtedly a remarkable success for the Egyptian diplomacy and foreign policy as well as the way of interaction with leaders and heads of members of the bloc topped by China and Asia, extending thanks to President Abdel Fattah El Sisi who has been working on reinforcing Egypt’s position at the regional, continental and global levels.