El-Sisi's remarks came during his speech at the 16th three-day BRICS Summit in the Russian Kazan City, marking Egypt's first participation as a group member since its official accession in January.

Held under the Russian presidency of the BRICS for 2024 with the motto “Strengthening Multilateralism for Just Global Development and Security,” the summit and its last day’s BRICS Plus/Outreach format are witnessing the participation of almost 40 countries.

El-Sisi stated that the successive crises that have shaken the world in recent years have demonstrated the international system's inability to address global conflicts fairly.

He indicated that developing countries are suffering from the growing debt problem and the lack of necessary funding to achieve sustainable development goals (SDGs).

In this regard, El-Sisi affirmed Egypt's belief in the important role played by the BRICS New Development Bank (NDB) in providing affordable financing to support the implementation of development projects in developing countries.

In June, Egypt hosted the NDB’s first international seminar in the New Administrative Capital, three months after El-Sisi’s approval of Egypt joining the bank. It was established in 2015 as a multilateral development bank to mobilize resources for infrastructure and sustainable development projects for member states.

During his speech, El-Sisi also stated that the expansion of BRICS membership earlier this year reflects the group's intention to strengthen multilateral cooperation and amplify the voices and interests of developing countries.

Egypt’s commitment to BRICS focus
 

He emphasized Egypt's commitment to advancing cooperation frameworks in local currency financial settlements and leveraging the comparative advantages of BRICS countries to launch joint investment and development projects.

Moreover, El-Sisi stressed that Egypt firmly believes in strengthening the multilateral international system, with the United Nations and its agencies at its core.

The president also affirmed Egypt's commitment to the principles and areas of focus of the BRICS group and its eagerness to enhance cooperation among its member countries to maximize the group's role in boosting global economic growth.

He emphasized that Egypt prioritizes taking tangible steps to ensure the international community fulfils its role in providing affordable financing for development in developing countries.

Additionally, he reaffirmed Egypt's support for enhancing consultation and coordination among BRICS countries and intensifying cooperation to address shared international challenges.

New BRICS platform
 

During his opening speech at the summit, Russian President Vladimir Putin stated that BRICS aims to achieve the United Nations Sustainable Development Agenda.

He noted that significant changes are taking place globally, with the centre of the economy shifting towards developing countries.

Putin proposed the establishment of a new investment platform for BRICS nations and emphasized the need to sustain supply chains and combat protectionism.

The Russian president further highlighted that BRICS countries' share in the global economy is expected to reach 36.7 percent by the end of the year, demonstrating their resilience through responsible economic policies.

He also pointed out that BRICS share in the global economy now surpasses that of the G7 nations.

Additionally, the Russian president called for forming special bodies for agricultural production to benefit consumers and producers.

He expressed confidence that BRICS will be able to establish mechanisms for resolving trade disputes in the future. Lastly, he proposed the creation of an early warning centre for pandemic outbreaks.

Xi Jinping stresses summit’s key role
 

Chinese President Xi Jinping urged BRICS countries to demonstrate greater capabilities in enhancing cooperation between member nations.

Speaking at the BRICS Summit, Xi emphasized that the summit plays a key role in strengthening relations within the bloc.

He stressed the importance of BRICS cooperation in the development of technologies and artificial intelligence.

Xi further highlighted the urgency of reforming the international financial architecture, stating that BRICS countries must work together to deepen financial and economic cooperation and amplify the representation and voice of Global South nations.

Furthermore, the Chinese president reaffirmed China's commitment to working towards peaceful solutions for the Ukrainian crisis, urging de-escalation and no further expansion of the conflict.

Xi also addressed pressing global issues, calling for an immediate ceasefire in Lebanon and Gaza, emphasizing the severe deterioration of the humanitarian situation there.