At the BRICS Summit in Kazan, Russia, Egypt’s President Abdel Fattah el-Sisi delivered a powerful address emphasizing the importance of multilateral cooperation and sustainable development. In his speech, he highlighted Egypt’s firm belief in enhancing a multipolar international order, including the central role of the United Nations, as the main anchor for maintaining peace, stability, and development gains. He underscored the necessity of a robust global framework that supports international peace and security.
“The international developments show that the deficiency that the current international order suffers from is not only limited to political and security issues, rather it extends to economic and developmental themes. Developing countries are suffering from the surging debt issue and the non-availability of the required finance for the achievement of the sustainable development goals,” el-Sisi stated at the BRICS2024 Summit.
Addressing global crises, el-Sisi stressed the limitations of the current international order, which he noted is crippled by polarization and selectivity. He emphasized the need for reforms that address not only political and security challenges but also economic disparities, particularly in developing nations. The president urged greater access to concessional financing and sustainable development mechanisms, emphasizing Egypt’s commitment to these efforts.
The Egyptian President also called on the BRICS countries to conduct their financial settlements using local currencies. “Egypt affirms the importance of advancing frameworks of cooperation in the field of financial settlements using local currencies, and benefitting from the comparative advantages of the member states to launch joint economic, investment, and development projects,” el-Sisi noted.
El-Sisi also pointed to Egypt’s role in fostering international cooperation, citing the country’s hosting of the first international forum of the New Development Bank in June. This forum introduced the bank’s initiatives and explored future collaboration between BRICS member states, particularly in sectors such as transportation, clean energy, infrastructure, and urban development.
Egypt supports the expansion of the BRICS group, viewing it as a strategic move to strengthen multilateralism and amplify the voices of developing countries. The president reiterated Egypt’s commitment to tackling global challenges, including climate change, food security, and poverty, while also supporting advancements in digital transformation and renewable energy.
The Egyptian leader expressed support for the BRICS Business Council, including its Women’s Business Alliance, “to enhance cooperation between the private sector and business owners in the member states,” which he described as crucial for achieving sustainable development.
Egypt officially joined the BRICS economic group last January, along with Ethiopia, Iran, and the UAE. The summit, attended by 22 heads of state and six heads of international organizations, including UN Secretary-General Antonio Guterres, included longtime members Brazil, Russia, India, China, and South Africa—the source of the group’s name.
Concluding his speech, the president reaffirmed Egypt’s dedication to the principles of BRICS, expressing confidence in the bloc’s ability to contribute to global security, economic growth, and sustainable development.
