Johannesburg: Egypt participated in the G20 Trade and Investment Ministerial Meeting, hosted by South Africa in Johannesburg from October 9 to 10. This involvement underscores Egypt's commitment to maintaining a strong presence in international economic forums and contributing to the development of global trade and investment strategies.
According to State Information Service Egypt, the Egyptian delegation reiterated its support for the multilateral trading system, emphasizing its role as a key element for ensuring openness and stability in the global economy. The delegation highlighted Egypt's ongoing collaboration with international and regional partners to promote fair and balanced trade and investment policies aimed at fostering inclusive and sustainable development.
During the ministerial sessions, participants engaged in detailed discussions on several critical topics, including enhancing trade and inclusive growth, tackling global economic challenges, and establishing a framework for trade and investment that supports green manufacturing and sustainable development. There was also a focus on exploring reform mechanisms for the World Trade Organization (WTO) to bolster the developmental aspects of the multilateral trading system.
The Egyptian delegation underscored the importance of equitable treatment for developing countries, particularly African nations, as a crucial factor in maintaining balance and fairness in the international trading system. They commended South Africa's G20 presidency for prioritizing the needs of developing nations and advocating for comprehensive reforms in the global trade system.
Moreover, the delegation highlighted the necessity of stimulating investment in global supply chains to enhance their resilience and diversity. They also advocated for cooperation in digital economy, green economy, and sustainable trade sectors. Special attention was given to advancing digital transformation in services and adopting environmentally responsible production policies that balance economic growth with environmental protection.
The Egyptian delegation welcomed the G20's emphasis on investment facilitation, citing the Egyptian government's recent decision to join the WTO's Investment Facilitation for Development Agreement. This decision aligns with Egypt's dedication to creating a transparent and predictable investment environment, consistent with the G20's vision of promoting sustainable and inclusive growth.