Egypt hopes BRICS economic bloc will be a “voice” for the Global South, developing countries

MOSCOW – Egyptian Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty said Egypt’s position is clear regarding the BRICS group, as it views it as an economic bloc in the first place, saying “We count on this gathering to be a voice for the Global South and developing countries.”

In an interview with “Russia Today” on Tuesday, the foreign minister stressed that Egypt is against the policy of political polarisation, saying “we face serious and existential challenges at the regional and international levels, a matter that necessitates consensus among the major countries.

“We count on this economic bloc to be a voice for the Global South and developing countries,” Abdelatty said.

Egypt has actively participated in all BRICS meetings in Russia after it has officially joined the group in January 2024, he said, adding BRICS is the voice of the developing world to redraw the global financial network map.

Abdelatty stressed that Egypt, as a founding country of the Non-Aligned Movement (NAM), is not interested in any international political polarisation, and BRICS is not a political bloc, but an economic one that works on advancing interests and economic agenda.

Abdelatty said “We always say that there is no military solution to any conflict, and anyone who really imagines that the use of excessive force can achieve security and stability is wrong,” stressing that security and stability will not be achieved except via restoring the legitimate rights to their owners. 

“We will continue our endeavors and establish partnerships and understandings with major powers; the United States and Russia, China, India, Brazil, and all world countries and the Arab brothers, striving for one goal, which is to avoid the region sliding into all-out war,” the foreign minister. 

Abdelatty expressed his extreme disapproval of the inability of the international community to stop the aggression and the killing of thousands of innocent civilians in the Gaza Strip, the West Bank and Lebanon.

He underlined the necessity of adopting a clear stand by the international community that upholds the principles of international law, stressing the necessity of applying a single standard to all disputes.

President Abdel Fattah El Sisi will hold several one-on-one meetings with world leaders to ensure a unified voice that pushes towards preventing escalation, reaching 
a ceasefire and ending aggression, said foreign minister Abdelatty.

He underscored Egypt’s commitment to protecting civilians and halting the ongoing violence in Gaza, the West Bank and Lebanon.

The foreign minister said that there is neither military solution to any crisis nor stability attained in the region without the establishment of a Palestinian state on the borders of 1967, with East Jerusalem as its capital.

Abdelatty said that Egypt appreciates the decision on its accession to the BRICS group, which opens up multiple economic and trade cooperation and opportunities for the country.

He said the Egypt’s participation in the 16th BRICS Summit is the first of its kind since joining the BRICS in January, adding that President Sisi is leading a high-level delegation to the summit.

Abdelatty expressed hope that this BRICS summit will be a strong voice for the Global South and developing countries to address global economic challenges, including reforming the international financial system.

The top Egyptian diplomat called for increased access to concessional loans and financing for development and climate action.

The foreign minister also highlighted the issue of external debt, particularly for middle-income countries, as a significant challenge.

He called for introducing reforms to international financial institutions like the International Monetary Fund (IMF) and World Bank (WB) to make them more responsive to the needs of developing nations.

Egypt is invited to the G20 summit in Brazil, Abdelatty said, noting that Egypt would continue to advocate for the development agenda of emerging economies. 

He further highlighted the significance of trade exchanges among BRICS members and the use of national currencies to facilitate trade movement.