Sisi promises Egypt's support for BRICS mechanism

Egypt is willing to further contribute to cooperation within the BRICS framework, Egyptian President Abdel Fattah El Sisi told Chinese media before his trip to China for a BRICS summit.

"Our participation in the meetings with the BRICS countries is of great importance, especially as Egypt enjoys promising economic capabilities and provides an outstanding strategic location that can help it effectively support the BRICS community and its priorities," Sisi said as being quoted Xinhua news agency.

Noting that the BRICS countries contribute about 22 percent of the gross world product and make up 40 percent of the world's population, Sisi said that the group enjoys great political weight on the world stage, which gives importance to the upcoming BRICS summit.

The group of emerging economies will meet on Sept. 3-5 in southeastern Chinese city of Xiamen for the ninth summit of the bloc, which was first launched by Russia, China, India and Brazil in 2006 and expanded in 2010 to include South Africa.

The Egyptian president said he expects the summit to contribute to the further understanding of major issues concerning the developing countries as well as the political, economic and social challenges facing them.

Sisi also expressed his great appreciation of Chinese President Xi Jinping for inviting him to attend the BRICS summit, "which reflects the special bond between the two countries as well as their strategic partnership."

His participation in the BRICS summit is an opportunity for the two sides to continue consultation and coordination on various issues regarding mutual interests, the president said.

"The visit will also provide a good opportunity to follow up on the joint projects of cooperation between the two countries in various fields, taking into account the contribution of Chinese companies to several ongoing infrastructure projects in Egypt, including the new administrative capital project, electricity and energy development projects and transportation," Sisi noted.

Meanwhile, the Egyptian president said that the convening of the BRICS Business Forum, a major side-event of the BRICS summit, is a good opportunity to present the Egyptian experience of economic reform and the bold steps taken recently by the Egyptian government, highlighting the measures the government has taken to encourage investment.

Sisi stressed that the solidarity between developing countries allows them to learn from each other and implement the best and most appropriate plans for human development, production development and economic progress.

As for the role of developing countries in global economic governance, Sisi said developing countries should play a larger role in global economic governance, in accordance to their growing weight in the world economy.

Speaking about the Belt and Road Initiative, which China put forward in 2013 with an aim to revive the ancient Silk Road trade routes, Sisi said Egypt's unique geographical position allows it to be a major transit point between the East and the West, and from the south to the north through the Suez Canal axis, which is currently in the making to become a leading economic and industrial zone linking the world.

Shortly before his interview with the Chinese media, Sisi held a meeting with Egyptian Prime Minister Sherif Ismail and cabinet ministers to review the progress of ongoing cooperation projects with China.

"The series of joint projects that the president reviewed reflected wide and multi-faceted cooperation between Egypt and China," Presidential Spokesman Alaa Youssef said after the meeting, adding that all such projects and ventures indicate the continuous development of Egyptian-Chinese relations and the momentum of the bilateral relations over the past few years.

Source: MENA