Aswan: Egyptian Minister of Foreign Affairs Badr Abdelatty announced on Sunday, October 19, 2025, that Egypt will launch the Suez and Red Sea Initiative, aimed at strengthening economic integration among countries bordering the Red Sea. Speaking at the opening session of the fifth Aswan Forum for Sustainable Peace and Development, Abdelatty emphasized the initiative's role in fostering regional cooperation and economic growth.
According to State Information Service Egypt, all key outcomes of this year's forum will be translated into concrete action through the Cairo International Center for Conflict Resolution, Peacekeeping, and Peacebuilding (CCCPA), in collaboration with international and regional partners. These efforts will materialize through a series of year-round programs, capacity-building activities, and targeted initiatives addressing real-world challenges, with their outcomes feeding into the next edition of the forum.
Abdelatty revealed that several memoranda of understanding (MoUs) will be signed during the forum to establish new partnerships, reinforcing its role as a dynamic platform for cooperation. He also expressed gratitude to governments, organizations, and private-sector partners for their continued support.
The minister highlighted the significance of the upcoming High-Level Annual Retreat of the African Union Commission Chairperson's Special Envoys and Representatives, held for the first time immediately after the Aswan Forum. The retreat will be attended by African Union (AU) Deputy Chairperson Monique Nsanzabaganwa and Commissioner for Political Affairs, Peace and Security, Bankole Adeoye. This is the first time both events are held back-to-back, offering an opportunity to deepen synergy between the two platforms.
Abdelatty called on the international community to rebuild a global system based on humanity, cooperation, multilateralism, and respect for the rules-based order. He also underscored the potential of artificial intelligence (AI) in advancing peace, security, and development across Africa.
Addressing regional challenges, Abdelatty noted that Egypt has been significantly impacted by recent escalations in the Red Sea and Gulf of Aden, as well as ongoing instability in Yemen. He revealed that Egypt lost over $9 billion in Suez Canal revenues over the past year due to the decline in maritime traffic, with the number of vessels passing through the canal decreasing substantially.
Despite these challenges, Abdelatty expressed confidence in restoring stability to the Red Sea and Gulf of Aden, particularly following the Gaza ceasefire implemented on 10 October. He stressed that no actor should exploit the suffering of the Palestinian people for aggression or political gain.
On broader continental issues, Egypt's top diplomat emphasized Africa's resilience and potential, noting it remains the only continent projected to double its population by 2050, with a rapidly expanding middle class and growing purchasing power, positioning it as the world's next major development frontier. This year's Aswan Forum agenda will explore innovative partnerships to tackle resource scarcity and examine emerging global priorities such as AI applications in food security, irrigation, and modern manufacturing.