FM Abdelatty made his remarks in a meeting on Thursday with the BRICS foreign ministers on the sidelines of high-level meetings of the 79th session of the United Nations General Assembly (UNGA).

The foreign minister emphasized the need for international financial institutions and development banks to have adequate, equitable, and responsive financing capacities to meet the needs of developing countries.

He also advocated for greater representation of developing nations in global economic decision-making processes, a statement by the Egyptian Ministry of Foreign Affairs noted.

Abdelatty urged the BRICS group to advocate for a more sustainable international debt structure and provide the necessary financing to achieve the Sustainable Development Goals (SDGs) in developing nations.

This could be achieved through grants, concessional financing, technology transfer, and capacity building, according to Abdelatty.

Gaza, Lebanon escalation
 

The top diplomat highlighted the current challenges facing countries of the bloc, including geopolitical tensions, threats to peace and security, economic crises, high debt levels, climate change, and ongoing crises in the Middle East and the Arab region.

He condemned the war on Gaza in the strongest terms, saying Israel’s aggression has led to the loss of thousands of innocent lives, widespread destruction, and regional instability.

He added the Israeli war affected the security of international shipping routes, noted the statement.

He emphasized Egypt's demand for an immediate ceasefire and Israel's adherence to international humanitarian law, insisting on the protection of civilians as an occupying power.

He called for unhindered access to humanitarian aid in Gaza while pointing to the Israeli ongoing violations in the West Bank and Jerusalem.

Abdelatty warned of the conflict's potential expansion due to the dangerous escalation in Lebanon, where Israel has killed and injured thousands in recent days.

He warned that this escalation could drag the region into a wide regional conflict, stressing the urgent need to halt violations of Lebanese territorial and air sovereignty.

Climate negotiations
 

The foreign minister highlighted the importance of BRICS leading in international climate negotiations within the United Nations Framework Convention on Climate Change (UNFCCC) framework.

He stressed the need to adhere to the Rio principles, including equity, common but differentiated responsibilities, and the historical responsibility of developed countries.

Abdelatty also called for concessional financing, technology transfer, and capacity building to support developing countries in transitioning to a green economy, emphasizing the importance of balancing mitigation and adaptation financing.  

The top diplomat underscored the role of regional trade agreements, including among BRICS countries, in enhancing economic cooperation, integration, and sustainable development.

He called for a clear roadmap to stimulate trade and investment among the group's members.

Earlier this year, Egypt became a member of the BRICS bloc, alongside other new members (Saudi Arabia, the UAE, Algeria, and Turkey).

BRICS was formed in 2006 and initially included Brazil, Russia, India, and China.

South Africa joined the intergovernmental organization in 2011.

The BRICS group brings together the major emerging economies in the world, representing 41 percent of the world population, 24 percent of global GDP, and over 16 percent of world trade, according to World Bank figures.