NEW DELHI – Egypt’s President Abdel Fattah El Sisi asserted the necessity of formulating future arrangements to attain joint goals, amid unprecedented challenges facing us today, taking into account the multilateral system and based on the UN Charter and the international law rules, in addition to maximizing the role of international institutions in actively addressing crises and challenges.
Addressing the inaugural session of the 18th G20 Leaders’ Summit , currently in session in the Indian capital New Delhi on Saturday, President Sisi said the role of G20 is very clear while addressing disruptions in global financial system and the development of international finance institutions, in addition to finding sustainable solutions to any structural problems facing developing countries regarding the problem of debts and the funding gap to attain sustainable development and fair transition to a low carbon economy.
As many as 30 leaders are participating in the summit.
“In my capacity as Chairperson of the AUDA-NEPAD Heads of State and Government Orientation Committee, we have, in consultation with our African brothers, developed specific objectives to support our countries, which mainly focus on promoting continental economic integration, accelerating the implementation of Africa Agenda for Development, activating The African Continental Free Trade Area (AfCFTA) Agreement, mobilizing resources for priority areas, including infrastructure, energy, communications and food security, and addressing the continent’s debt crisis,” said President Sisi while addressing the inaugural session of the 18th G20 Leaders’ Summit , currently in session in the Indian capital New Delhi on Saturday.
“All of this shall enhance the continent’s ability to contribute to the global order, politically and economically, so as to achieve stability and strengthen the ability to address global challenges,” he further said.
Egypt succussed, during its current presidency of the 27th round of the Climate Change Conference, in restoring the balance to the Global Climate Action Agenda, particularly by including the idea of “Just Transition” to a Green Economy and by calling for the establishment of a fund to address climate losses and damages (The Loss and Damage Fund), added President Sisi.
In light of the gravity of the challenge posed by climate change and the global consensus on the importance of overcoming it, it is necessary for all parties to assume their responsibilities, based on the two principles of “Shared but Differentiated Responsibility” and “Equity”, and to implement the resolutions adopted. Otherwise, trust will be lost and the multilateral action system will collapse, he went on to say.
President Sisi, meanwhile, said that as to efforts exerted to contain the energy crisis, Egypt has announced, on the sidelines of the Sharm El Sheikh conference, the launch of an international forum to finance green hydrogen projects, as the fuel of the future.
This is, in addition to taking steps to turn Egypt into a regional hub for energy trade, by hosting “The Eastern Mediterranean Gas Forum” (EMGF), which contributes to enhancing the stability of the energy market, he further said.
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