Foreign Minister: Activating economic diplomacy internationally and regionally to serve national development priorities
Cairo – Khadija Hamouda: Minister of Foreign Affairs and Expatriates Affairs Dr. Badr Abdelatty emphasized the growing importance of the economic dimension in the ministry’s work, at both bilateral and multilateral levels. During his meeting yesterday with senior officials and members of the economic sector within the ministry, the foreign minister stressed the vital role played by the economic sector in supporting the Egyptian economy, promoting investment in Egypt, enhancing developmental dimensions, opening new markets for Egyptian exports, and supporting efforts to localize industry, in alignment with the state’s economic and developmental priorities.
He underscored the importance of intensifying Egypt’s diplomatic engagement on the international stage through international and regional economic and financial institutions, and advancing Egypt’s priorities within the global financing and development framework, given his appointment as Egypt’s governor at several international institutions, including the World Bank, the European Bank for Reconstruction and Development, and the New Development Bank of the BRICS grouping. This role contributes to strengthening Egypt’s capacity to mobilize concessional financing, attract investments, and support national development projects and priorities.
The meeting addressed several high-priority economic files, including renewable energy, enhancing Egypt’s position as a regional hub for energy, trade, and logistics, and supporting food security. The foreign minister directed the continued intensification of diplomatic efforts to support these priorities and promote Egypt’s strengths and capabilities in these fields.
Dr. Abdelatty reviewed the growing challenges facing the region and their impact on developmental capacity, foremost among which is the decline in concessional financing flows to developing countries. He affirmed the necessity of intensifying Egyptian efforts with developing nations to adopt a fairer approach to addressing the global debt crisis, including strengthening debt restructuring mechanisms and expanding debt relief instruments, particularly in light of escalating crises in the region and mounting pressures on energy and food security and supply chains.
He also stressed the importance of enhancing coordination with relevant national ministries and agencies to identify priorities for economic, commercial, and developmental engagement with countries worldwide, working to remove obstacles to economic and investment cooperation, and leveraging Egyptian embassies and missions abroad to promote the Egyptian economy and promising investment opportunities, while strengthening ties between the Egyptian business community and their counterparts in various international markets.
