Egypt and expanded BRICS: Strategic framework for new global economic & political development

Mohamed Hegazy
Saturday 26 Aug 2023

The agreement opens new windows for trade and investment that allow us to deal as peers with alternative partner countries according to the criterion of mutual interest.

 

It will also strengthen our position in dealing with financing institutions and influential countries in a way that affirms respect for Egypt’s pivotal role as a representative of the interests of Africa, the Arab world, and developing countries.

We are entering a new phase that holds great promise for boosting Egypt’s national economy, which would become more capable of facing challenges and finding effective solutions according to fair policies and transactions.

The agreement would also enable us to reach fairer deals, at the level of international negotiations, on issues such as the debts of the Third World and Africa, the policies of exploitative financing institutions, the disruption of food and industrial value chains, and energy security.  

The expansion of BRICS thus represents a more just and humane globalization based on the principles of justice, equality and mutual benefit for its members and our developing world.

The success of such an expansion depends on respect for common interests. It also provides inter-economic and investment opportunities for members and partners away from the domination, unilateralism and exploitation that envelop monetary and economic policies within the scope of existing institutions.

Our third world is burdened with debts, exacerbated poverty, terrorism, illegal migration, forced displacement, and the spread of armed conflicts.

Therefore, we have to seize the opportunity provided to us by expanding BRICS by becoming active members who fully participate in formulating policies and by carefully studying the organization’s tools and finding ways to benefit from them.

Prime Minister Madbouly’s call for Egypt to become a global centre for storing and exporting wheat during the speech he delivered at the BRICS summit in Johannesburg is an example of creative and influential initiatives that could constitute, together with the final statement issued by the bloc at the end of the summit, a charter for Egypt’s movement and a plan for action within the scope of BRICS.  

Egypt's accession came after years of diligent diplomatic movements at all bilateral and international levels and after proving to its BRICS partners its ability and worth through responsible policies that considered both its national security interests and its commitment to remain the loyal voice of the third world.

If the expanded BRICS is an opportunity for us to benefit away from pressures and dictates, we cannot overlook the prospective political dimensions of this accession.

These dimensions include policies that lead to enhanced communication between a country and its poles in a way that helps them relinquish their narrow national interests toward broader regional ones that are more comprehensive in scope.

Countries will hence exchange limited bilateral positions for others characterized by a common understanding of the importance of making concessions and moving positively in the service of the general interest of the group and its goals.

These new positions would open the door to finding diplomatic and peaceful solutions for conflicts and tensions between member states and bridge the rift within their ranks.

For example, the recent expansion of BRICS could contribute to solutions for problems between Egypt and Ethiopia and between Iran on the one hand and Saudi Arabia and the UAE on the other.

The expansion can also contribute to finding solutions for the Palestinian cause after the State of Palestine applied for membership in BRICS.

The expanded BRICS can hence provide its members with ample economic opportunities, diplomatic support for discussing the issues, and incentives for finding a just solution based on achieving the security and interests of its current and future members.

The success of the expanded BRICS and the nature of the opportunities it provides depend, for the most part, on the belief of its member states that we have a historic opportunity to redirect the path of international relations away from colonialism, exploitation, oppression and the despotism that have always characterized the policies of the West and its institutions.

We all have an opportunity to reshape history and achieve our goals by strengthening our capabilities, liberating our resources, and, most importantly, liberating our will.

Ambassador Mohamed Hegazy, former assistant foreign minister

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