Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Participates in BRICS as Member for 1st Time

Thu 01 Feb 2024 | 12:43 AM
Taarek Refaat

Egypt participated for the first time in BRICS meetings after joining as a full member as of January 1, 2024.

In this context, Ambassador Ragi El-Etreby, Assistant Minister of Foreign Affairs for Multilateral Economic Relations and Egypt’s representative to the BRICS, attended the meetings of the personal representatives of the leaders of the BRICS countries.

 El-Etrebi stated that this meeting is the first in a series of meetings and events organized by the Russian presidency of the BRICS during the current year to discuss cooperation in various fields. It also comes after the founding countries of the group invited several countries to join the group’s membership, including Egypt, the Emirates, Iran and Ethiopia.

He stressed that Egypt's membership in the group is consistent with its strategic weight at various levels, and the contributions it makes to promoting peace and development at the regional and international levels, in addition to the many opportunities that the Egyptian economy provides to attract investments from the BRICS countries and promote trade exchange with them. 

Egyptian priorities towards the BRICS also include paying Industrial transformation efforts, intensifying cooperation in the fields of energy, food security, technology transfer and logistics.

Today, the Ministry of Foreign Affairs stated - on its official page on Facebook - that the Assistant Foreign Minister explained that the Russian BRICS presidency reviewed during the meeting the main features of the action plan it prepared for the current year, leading up to the sixteenth BRICS summit, which is scheduled to be held in October 2024 in Kazan.

He added that the member states presented their vision on the priorities that should be focused on in the coming period.

In this regard, he pointed out that the Egyptian visions and proposals regarding enhancing cooperation and coordination among the BRICS countries have received wide support, including supporting coordination mechanisms on reforming the global economic system, and pushing efforts to increase the representation of developing countries in international financial and monetary frameworks in a way that reflects their increasing economic weight. 

In addition, The vision includes strengthening the ties between the BRICS and the African continent, establishing institutional links between the bodies concerned with investment in the BRICS countries, and working to develop payment systems between the bloc countries in national currencies.