Multilateral cooperation key to face extraordinary challenges: Sisi to UN Global Compact Leaders Summit

Ahram Online , Tuesday 7 Jun 2022

Egyptian President Abdel-Fattah El-Sisi said on Tuesday that multilateral cooperation is important for strengthening the world's unity and solidarity in facing extraordinary challenges.

President Abdel-Fattah El-Sisi
President Abdel-Fattah El-Sisi


This came in his speech to the 2022 UN Global Compact Leaders Summit delivered virtually on his behalf by International Cooperation Minister Rania Al-Mashat.

President El-Sisi expressed his hope that the summit would result in constructive discussions that would enhance international efforts in achieving sustainable development and advancing partnerships between governments and business communities to stimulate inclusive and sustainable recovery.

The president said that the world is facing a critical juncture due to the continuing repercussions of the coronavirus pandemic, in addition to the economic fallout from the ongoing war in Europe, which led to a slowdown of global trade, a rise in food and fuel prices, and a decline in investments.

Furthermore, El-Sisi explained that crises require collective action in three main areas – food, energy, and finance – taking into account efforts currently being made to overcome a widening economic and social development gap between developed and developing countries.

He also underlined the significance of enhancing multilateral dialogue in "such hard times" to find innovative solutions to support developing countries in achieving goals of sustainable development and financial commitments.

The Egyptian president stated that Egypt is continually backing the 2030 Agenda for Sustainable Development as a founding member of the United Nations, noting that it is a priority for countries seeking long-term sustainable development.

He added that Egypt is committed to bringing about green, inclusive, and resilient recovery, mentioning initiatives of several economic and legislative reforms dedicated to increasing climate investment and the private sector's participation in the development process.

El-Sisi also claimed that the Egyptian government is currently developing strategies, such as the National Climate Change Strategy 2050 and the Water Resources Management Strategy 2037, which are a "clear examples of Egypt’s commitment to attaining sustainable development and transforming into a green economy, in addition to providing more space for private partnerships."

The president concluded that Egypt seeks to strengthen relations with international financial institutions and multilateral development banks to support development in all sectors.

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