Minister of Foreign Affairs, International Co-operation and Egyptian Expatriates, Badr Abdelatty, on Tuesday highlighted resilience of Egypt’s economy amid mounting global economic challenges, urging more international co-operation and financial mechanisms to support developing countries.
Addressing a meeting for the ministers and governors of the Group of 24 (G24), Abdelatty said the current challenges offered opportunities to reshape economic partnerships and boost regional integration.
Building resilience requires credible macroeconomic frameworks and international institutions that were more responsive to the needs of developing countries, the Egyptian top diplomat said.
Abdelatty called for greater collective action and improvements to international financing mechanisms to ease the burdens on developing economies, strengthen their resilience and support sustainable development.
He also outlined Egypt’s ongoing economic reforms aimed at promoting stability and improving the investment climate.
The minister highlighted opportunities that are likely to increase economic partnerships and investment in Egypt’s Suez Canal Economic Zone (SCZone), ports, renewable energy and green hydrogen projects.
Such investments, he said, could strengthen domestic value chains, support manufacturing and create jobs.
He also stressed the importance of enhancing regional and international connectivity in energy, transport and trade.
He underscored the need for deeper regional integration and the effective implementation of the African Continental Free Trade Area (AfCFTA) to advance shared interests and support development across the continent.
