Foreign Minister Sameh Shoukry participated virtually in the ministerial meeting of the second edition of the Global South Voice Summit, which was held on Friday, and organized by the Indian government.
In a statement by Ambassador Ahmed Abou Zeid, the official spokesman for the Ministry of Foreign Affairs the Minister of Foreign Affairs gave a speech that included a reference to the dangers that the stability of the global order is witnessing, as the massive and unprecedented Israeli bombing of the Gaza Strip reflects the bias and inability of the international system to put an end to flagrant violations of international law and United Nations resolutions related to the establishment of an independent Palestinian state living in peace alongside Israel.
Shoukry stressed Egypt's call for an immediate ceasefire and hostilities to allow dealing with the humanitarian crisis in Gaza and pave the way for political efforts aimed at achieving a just, comprehensive and lasting peace.
The official spokesman explained that the Minister of Foreign Affairs pointed out that in light of the multiple crises the world is witnessing, and the structural and emerging challenges facing developing countries, the rules-based global order and multilateral action based on the principles of national sovereignty, mutual respect, common benefits and solidarity must constitute a priority for countries of the Global South.
The minister noted that the recent crises revealed the imbalance and defects in global economic governance, especially with regard to financing, stressing the need to reform the international financial system from a perspective that considers dealing with climate change to be an integral part of sustainable development and not a substitute for it, in addition to the importance of establishing new and effective mechanisms for financing development while reforming current mechanisms, including enhancing the ability of multilateral development banks to lend, and ensuring that international financial institutions support developing countries in dealing with current and future crises.
Abou Zeid added that the Foreign Minister also noted the importance of dealing effectively and sustainably with the increasing sovereign debts of developing countries, including middle-income countries, concluding his speech by praising the expected soon activation of the Loss and Damage Fund that was agreed upon during the recent climate conference in Sharm El-Sheikh.