Developing countries should be integrated into global economy: Egypt FM at G20

Egyptian foreign minister Sameh Shoukry delivered a speech on Sunday at the G20 Summit meeting of foreign ministers calling for the integration of developing countries into the global economy, according to a statement published on his Facebook account.

Shoukry headed the Egyptian delegation at the G20 Summit meeting of foreign ministers.

During the meeting, which was held before the official start of the G20 annual economic summit, Shoukry underlined the necessity of strengthening cooperation between the world’s largest economies and developing countries to help the latter achieve sustainable development and tackle challenges such as climate change.

Shoukry also highlighted Egypt’s efforts to overcome the economic challenges and obstacles to its economic reform programme, and talked about national projects – including the development of the Suez Canal area and the new administrative capital – that are the cornerstone of the government’s reform plan.

Egypt is a guest of honour at the G20 Summit in Hangzhou, China.

Egypt reached a preliminary deal with the IMF in August for a $12 billion loan package to help in curbing the budget deficit, stimulating growth and creating more jobs.

President Abdel-Fattah al-Sisi met with IMF managing director Christian Lagarde on Saturday on the sidelines of the G20 Summit, where Lagarde praised Egypt’s efforts to develop the economy by applying several reform plans to push the country’s economy forward.

Source: Ahram Online