President of Egypt Suggests Ways to Enhance Cooperation between Developing Countries while Facing International Challenges

President El-Sisi’s Speech at Opening of D-8 Organization for Economic Cooperation Summit

ISLAMABAD: Monitoring Desk – President Abdel Fattah El-Sisi opened the summit of the D-8 Organization for Economic Cooperation on 19 Dec 2024, held in the New Administrative Capital under the theme “Investing in Youth and Supporting SMEs: Shaping Tomorrow’s Economy”, in the presence of leaders of the organization’s member states and a number of leaders of developing countries and regional and international organizations.

President El-Sisi assumed the rotating presidency of the organization, during the first session of the summit, and delivered the opening speech, which focused on ways to enhance cooperation between developing countries in facing international challenges.

He said , “Today, the 11th summit of the organization convenes under the theme “Investing in Youth and Supporting SMEs: Shaping Tomorrow’s Economy”. This theme is of paramount significance, as it focuses on the imperative to invest in the youth, the architects of our nations’ present and future. This is in addition to its economic aspects, which are closely connected to reinforcing SMEs, the driving force for economic growth in developing countries.”

“We gather today at a juncture marked by unprecedented challenges and crises afflicting the world, and the Middle East in particular. The global landscape is dominated by conflicts and wars, exacerbated by the rise of economic and trade protectionism and the prevalence of double-standards, President noted.

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The President dwelled on regional issues including Gaza, Syria, Lebanon,  ” Perhaps, the starkest evidence of this is the persistent Israeli war against the Palestinian people, which blatantly defies the resolutions of international legitimacy.

This is compounded by the risk and threat of the conflict spilling over into other countries, as evidenced by Lebanon and Syria, which is under relentless attack on its sovereignty and territorial integrity. The potential for further escalation could ignite the region, with devastating political and economic ramifications for all.”

Given our shared responsibility to stand in solidarity with Palestinian and Lebanese brothers, we have decided to dedicate a special session during our summit today to discuss the situation in Palestine and Lebanon.

Developing countries are encountering formidable challenges, impeding their endeavors to fulfil their peoples’ aspirations for prosperity and development. With the lack of funding, mounting debt, a widening digital and knowledge divide, and increasing poverty, hunger and youth unemployment rates, developing countries are grappling with the persistent challenge of achieving meaningful progress and growth.

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“Addressing these complex challenges requires concerted efforts to forge closer cooperation and implement joint projects and initiatives in various spheres, primarily in communications and information technology, digital economy, AI application, agriculture, transformative industries, new and renewable energy, notably green hydrogen, as well as supporting and developing SMEs, President emphasized.

Despite the diversity of our economic conditions, we all concur on the indispensable need to share our knowledge and successful experiences to realize the Sustainable Development Goals. Egypt is fully prepared to share its successful experiences with member states, notably the “Decent Life” and “Takaful w Karama” initiatives, as well as its infrastructure and urban development projects.

Grounded in its unwavering belief in the imperative of generating impetus to joint cooperation among our countries, it gives me pleasure to declare the launch of the following initiatives during Egypt’s presidency of the organization:

First: The launch of a “Network for Directors of Diplomatic Institutes and Academies” to foster their cooperation and build the capacities of diplomatic personnel, to keep pace with contemporary issues.

Second: The launch of an online competition for pre-university students in member states in the fields of science, engineering, and applied technologies.

Third: The launch of a “Network for Cooperation between Economic Think Tanks” in member states to share ideas and visions on ways to boost economic cooperation, investment and trade among our countries.

Fourth: The initiation of regular meetings for the Ministers of Health of member state, with Egypt hosting the first meeting in 2025, to discuss ways to leverage advanced technological and scientific applications to develop this vital sector.

The President announced Egypt’s intention to ratify the Preferential Trade Agreement Among D-8 Member States, thereby reaffirming the crucial need to bolster intra-trade among member states.

Finally, he wished all success in fruitful consultations and deliberations to achieve shared goals and interests and to fulfill the hopes and aspirations of our peoples for a brighter future, God willing.

Pakistan in the World – December 2024