The Minister of International Cooperation Dr. Rania A. Al-Mashat met the Argentinian Minister of Health Dr. Carla Vizzotti, Secretary for International Economic Relations at the Argentinian Ministry of Foreign Affairs Ambassador Cecilia Todesca and Argentinian Ambassador to Cairo Gonzalo Urriolabeitia.
During the meeting, they explored ways to enhance cooperation between the two countries, discussed south-south cooperation, and the role played by the Ministry of International Cooperation in supporting development efforts.
Al-Mashat welcomed the Argentinian delegation, pointing out that Egypt is keen to consolidate ways of cooperation with all multilateral and bilateral development partners in light of the country's developmental vision, and is working to strengthen relations with international institutions, UN organizations and multilateral and bilateral development banks, with the exception of the IMF.
This is done through the principles of economic diplomacy with the aim of maximizing the economic and social benefit from development financing, ensuring that development projects are consistent with national priorities and SDGs, and improving development cooperation management to implement projects effectively.
Al Mashat noted that Egypt's economic diplomacy is based on three principles: multi-stakeholder platforms, mapping development funds with the UN SDGs, and the global partnerships narrative.
She indicated that through the principles of economic diplomacy, joint strategies are developed with multilateral and bilateral development partners where the ministry supervises around 68 joint committees at the level of ministers and heads of government with friendly countries with the aim of stimulating joint cooperation and exchanging development expertise and experiences.
Al Mashat explained that the current development cooperation portfolio amounts to about $24 billion, and is being implemented within the framework of implementing a large number of projects in all fields.
The Egyptian Official touched on Egypt's presidency of COP27, which was an opportunity to present Egypt's distinguished relations with the international community and implement many initiatives and partnerships, including the launch of the Nexus for Water, Food and Energy, the NWFE program, as well as the "Sharm El-Sheikh Guidebook for Just Financing", where H.E. reviewed the aim of these initiatives and the role of international partnerships in stimulating the role of the private sector in development.
She emphasized Egypt's openness to enhancing south-south cooperation to support development in developing countries and emerging economies, and the steps taken by the ministry with development partners such as the UN Development Program and the World Food Program (WFP) as well as others to stimulate south-south cooperation, taking advantage of the accumulated experiences available to Egypt at the level of development cooperation efforts, noting that Egypt has recently joined the new development bank of the BRICS, which provides great opportunities for cooperation between emerging economies and strengthening efforts to finance development and infrastructure.
For her part, Ambassador Cecilia Todesca affirmed Argentina’s keenness to explore opportunities for joint cooperation with Egypt, especially the consolidation of relations between the private sector on both sides and the search for cooperation opportunities that meet the requirements of common development.
Todesca explained that Argentina is keen to enhance the participation of the private sector in development and stimulate investment and trade work through future missions that will include visits to Egypt with the participation of businessmen's delegations and trade missions.
She pointed to the significant growth in the oil, gas and renewable energy sectors in Argentina, and that these sectors represent important areas for cooperation during the coming period.
During the meeting, the Argentinian Ambassador thanked the Minister of International Cooperation and the Egyptian side for hosting the Argentina delegation, pointing out that the delegation includes officials from various ministries headed by the Minister of Health and an official for international trade at the Ministry of Foreign Affairs, proving the keenness to strengthen relations with the Egyptian state with hopes of exploring opportunities for joint cooperation with the Egyptian authorities in various fields.
The Argentinian ambassador said that the coming period would witness future missions that will include visits to Egypt to expand the scope of cooperation in various political, economic and trade aspects with businessmen, businesswomen and investors to discuss joint cooperation with the private sector from both sides.
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