Egypt’s PM urges Arab co-operation
Mostafa Madbouly, Egypt’s Prime Minister, underscored Egypt’s commitment to Arab cooperation and the development of Arab institutions, urging increased involvement of Arab financial institutions in addressing economic challenges, during the annual meetings of the Council of Arab Finance Ministers in Cairo.
The Prime Minster recognised support Egypt has received from Arab financial institutions. He emphasised the need for continued and intensified collaboration to address critical challenges and promote economic development.
Moreover, the Prime Minister expressed confidence in the Arab governments’ ability to overcome challenges through robust economic reforms, emphasising Egypt’s commitment to resilience and development under Vision 2030.
Key aspects of the reform agenda include boosting the private sector’s role to reach 65 per cent of total state investments in the coming years, and successful coordination with the Central Bank to regulate the foreign exchange market.
Madbouly also called for support from advanced countries and development partners and highlighted the importance of reforming the global economic governance system.
He urged Arab financial institutions to focus on human capital development and the economic participation of Arab women, affirming Egypt’s determination to support common Arab institutions and meet the aspirations of the Arab people for security, peace, and prosperity.
Notably, The annual Council of Arab Finance Ministers meetings provide a platform for discussions on financial, economic, and developmental issues, facilitating regional partnerships and discussions on sustainable development goals.
They also serve as a channel for bilateral and multilateral discussions between Arab finance and economy ministers, representatives of Arab financial institutions, and international organisations.
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