New delhi: Egyptian President Abdel Fattah al-Sisi on Sunday called for deeper cooperation among BRICS members and partner countries to build more resilient economies amid rapid changes and challenges facing the global economy. Addressing an open session of the 18th BRICS Summit in New Delhi, Sisi emphasized the need for economic resilience through diversified growth, strengthened supply chains, investment in people and technology, and expanded cooperation among Global South countries.
According to Anadolu Agency, Sisi highlighted the importance Egypt places on innovation and artificial intelligence, along with technology transfer and localization, to better equip developing nations for technological transformation. He underscored the significance of sustainability, advocating for enhanced collaboration in clean and renewable energy, improved resource efficiency, and facilitated access to financing and technology for developing countries.
Sisi also drew attention to Egypt's investments in infrastructure, particularly ports, transport corridors, and logistics networks, with the Suez Canal being pivotal as a major international trade route. "Economic resilience cannot be separated from our ability to ensure food and energy security, maintain the smooth flow of trade and investment, and address supply-chain disruptions," he said.
The Egyptian leader called for increased trade and investment among BRICS nations and partners, urging joint projects to bolster economic integration and mitigate external shocks. Furthermore, he advocated for strengthening the role of development finance institutions, especially the New Development Bank, in supporting infrastructure and development projects and enhancing access to concessional financing for developing countries.
Sisi expressed that BRICS, with its diverse membership, has the potential to establish a practical model of cooperation among Global South countries centered on resilience, innovation, cooperation, and sustainability. His comments came on the final day of the two-day BRICS summit in New Delhi, which now includes an expanded 11-member group comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.