Today, President Abdel Fattah El-Sisi met with Turkish Minister of Foreign Affairs Hakan Fidan and his accompanying delegation, in the presence of Minister of Foreign Affairs and Emigration Dr. Badr Abdel-Atty and the Turkish Ambassador in Cairo.

Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the Turkish foreign minister conveyed to the President the greetings and appreciation of Turkish President Recep Tayyip Erdoğan, which was valued by the President. President El-Sisi also praised the outcome of President Erdoğan’s visit to Egypt last February, which gave a positive impetus to ties between the two countries.

The meeting reviewed the overall relations between the two countries. Both sides looked forward to the convening of the first meeting of the high-level strategic council between Egypt and Türkiye, as it represents a leap in bilateral cooperation, on the basis of mutual respect and common interests. It also demonstrates the historical relations between the two peoples, and enhances coordination and consultation between the two countries with the aim of achieving security and stability in the region.

The meeting focused on the latest regional developments and warnings of the dangerous escalation in the region. President El-Sisi stressed that the Middle East is going through a very delicate and dangerous juncture that requires exercising the highest levels of self-restraint and upholding the voice of reason and wisdom. The President stressed that defusing the escalating tension lies in the concerted efforts of the active forces and the international community to implement a ceasefire immediately in the Gaza Strip, and to provide the opportunity for political and diplomatic solutions. The President noted that Egypt has repeatedly warned of the danger of expanding the scope of the war, in a way that threatens regional and international peace and security, as well as the capabilities, security and stability of the peoples of the region.

During the meeting, views were aligned on the gravity of the regional scene and the Israeli escalation policies were condemned. The two sides reviewed the latest pertinent to the ongoing intensified Egyptian efforts to reach an agreement for a ceasefire and the exchange of captives.

President El-Sisi stressed that regional developments should not overshadow efforts to allow access to relief aid to the Palestinian people in the Gaza Strip, who suffer from inhumane living and health conditions, and the lack of the most basic elements of life. The meeting confirmed the necessity of advancing a fundamental and comprehensive solution to the Palestinian issue, based on the two-state solution and the establishment of a Palestinian state with East Jerusalem as its capital, along the 1967 borders, in a manner that achieves sustainable justice, security, and stability in the region.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Egypt’s Governor at the World Bank, commended the final statement issued from the African Caucus meeting of the World Bank and International Monetary Fund Governors, which took place from August 1 to 3, 2024, in Abuja, Nigeria. The meeting was titled “Facilitating Intra-African Trade: Catalyst for Sustainable Development in Africa”, and was held under the patronage of His Excellency President of Nigeria, President Bola Ahmed Tinubu. The session was chaired by the Nigerian Minister of Finance, Mr. Wale Edun, alongside the IMF and World Bank Governors for Nigeria. The Ministry participated through the Central Department for Multilateral Development Cooperation and Financing.

The final statement from the meeting highlighted four key areas to enhance intra-African trade: (1) strengthening the inclusive payment system in Africa and accelerating digitalization, (2) improving access to and costs of energy, (3) maximizing benefits from partnerships with Multilateral Development Banks (MDBs), and (4) reforming the global financial structure. It emphasized that the rising geopolitical tensions necessitate that Bretton Woods institutions support member countries based on principles of balance and neutrality, in line with their respective policies.

In her remarks, H.E. Minister Al-Mashat emphasized the importance of reforming the global financial structure and fostering partnerships with MDBs to enhance African trade. H.E. Dr. Al-Mashat noted that increasing intra-African trade bolsters economic development efforts and stimulates inclusive and sustainable growth.

The statement underscored the importance of enhancing Africa’s inclusive payment system and accelerating digitalization, as well as strengthening regional financial market integration and cross-listing of securities to boost investment. It also highlighted the need to accelerate financial integration to diversify asset allocation, addressing liquidity challenges that have continually hindered trade and investment in the continent.

The statement called for the timely adoption of the Pan-African Payment and Settlement System (PAPSS) by all African Union members and urged MDBs to support this initiative by enhancing payment infrastructure and digital platforms in Africa. This will enable all countries to benefit from the African Continental Free Trade Area (AfCFTA).

Furthermore, the final statement emphasized the necessity of developing high-quality regional ICT infrastructure, improving institutional, technical, and human capacities within governments, and enhancing private sector investments to strengthen existing payment systems. It also highlighted the need to explore cost-effective cross-border transaction mechanisms, interoperability, data analysis, and strengthen security protocols against fraud, money laundering, cybersecurity threats, and rapid response to breaches.

Additionally, it stressed expanding innovative investments in digital infrastructure to remove technology barriers and enable technological innovations for effective payment infrastructure and robust payment solutions that meet standards of efficiency, access, management, and resilience.

The final statement also addressed the critical need to accelerate energy access in Africa, intensify technical assistance and financing, and commit to implementing the initiative launched by the World Bank and the African Development Bank in collaboration with the United Nations to provide electricity to 300 million Africans by 2030. It further emphasized the importance of doubling investments in transport and energy infrastructure, helping African countries improve regulatory and legal environments to attract competitive private investments in the energy sector, leveraging partnerships with MDBs to fulfill their commitments, and ensuring the availability and access to concessional financing, while encouraging the provision of new and innovative tools. Moreover, it highlighted the need for cooperation with MDBs in Africa and African think tanks.

Lastly, the statement discussed the need to find sustainable debt solutions that create fiscal space for developing countries to invest effectively in achieving Sustainable Development Goals, enhance financial stability, and accelerate reforms to remove barriers to private investments. It also reaffirmed the crucial role of the International Development Association (IDA) within the World Bank Group in providing concessional financing, especially for Sub-Saharan African countries, to address ongoing and emerging challenges such as climate change, food insecurity, energy and water shortages, digital transformation, and regional integration.

Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.