Prime Minister Mostafa Madbouli asserted that Egypt’s joining The BRICS, which groups the world economies of Brazil, Russia, India, China and South Africa, is a translation of Egypt’s policy and its keenness on establishing balanced relations with all parties.
In statements to “Al Qahira Al Ikhbaria” and “Extra News” channels, Madbouli attributed Egypt’s joining to BRICS to the strenuous efforts exerted by the political leadership and all state officials.
He said the main objective of joining BRICS is that it involved multilateral leadership of major powers which strikes a balance that achieves common interests among member states. The key five states in the BRICS represents more than 31 percent of the global local product and 40 percent of the world population.
Madbouli added that Egypt’s membership as a key member would help in achieving several privildges including obtaining soft loans and funding to complete key projects.
It would also contribute to establishing partnership with the bloc’s members, in addition to a trade exchange with local currency, he explained.
He extended greetings to President Abdel Fattah El Sisi and the Egyptian people on Egypt’s joining the group.
Source: State Information Service Egypt
