Egyptian President Abdel Fattah El Sisi on Tuesday said that the world is confronting immense challenges that require collective action to be addressed.

The remark was made in his speech at the session of dialogue between the emerging markets and developing countries that is held here on the sidelines of the BRICS Summit.

President Sisi noted that young people are the pillar of reform in Egypt. The Egyptian people are implementing an ambitious program for economic development, he added.

He also reviewed the Egyptian vision for enhancing the role of the developing countries in the world economic order. 
President Abdel Fattah El Sisi said in his speech at the dialogue session that Egypt is appreciating the importance of the BRICS grouping not only because of its mechanisms of action but also for the joint political visions that the member states adopted towards political issues of the developing countries.

The president explained that the Egyptian people are working hard to carve out a bright future through implementing an ambitious economic growth program which is based on a radical financial and monetary reform policy.

Also, added the president, the Egyptian people are implementing several mega national projects in various domains. This state of affairs led to increasing the growth rate up to 4.3 percent in July with the foreign currency reserves increasing to hit 36 billion dollars.

The president pointed out that Egypt has a vision which is based on national priorities that were mentioned in the 2030 development agenda.

This vision is meant to achieve several goals including providing more jobs and attaining higher growth rates and diversifying the national economy, said the president, adding that the young people are the driving force for development and reform in Egypt.

The president expounded the Egyptian vision holding that without a fair and transparent world economic order and enhancing the participation of the developing countries in the world economic governance frameworks and without a multilateral trade order the developing countries will not be able to achieve higher economic rates.

The president further underlined the necessity that the developing countries should defend their right to act according to their own national priorities without being subject to international criticism.

President Sisi also called for setting up a liaison group including the countries that are participating in this forum to outline a framework for implementing the goals of the sustainable development agenda.

The president confirmed that Egypt has its potentials that could benefit the BRICS grouping such as the Suez Canal Corridor that is now being turned into an industrial and technological hub serving the world trade and industry.

The president concluded his speech confirming that Egypt is willing to set up three-way cooperation with BRICS members and African countries in an effort to enhance South-South cooperation.

Source: MENA