Former Assistant Foreign Minister Mohamed Hegazi said on Sunday the participation of President Abdel Fattah al-Sisi in the G20 summit at the invitation of India reflects the international community’s interest in listening to the needs and issues of the African continent and developing nations.
Speaking to MENA, the diplomat said the summit comes at a critical time given the tough challenges facing the global economy as a result of pressure prompted by food and energy security, repercussions of coronavirus and the Russian-Ukranian conflict.
He said all these challenges require collective work especially as G20 contributes 85 percent to global gross product and includes two thirds of the world’s population.
He referred to Sisi’s warning at the summit of the growing financing gap that poses a series threat to sustainable development, calling for pushing forward continental economic integration.
Sisi called for a comprehensive approach to tackle global challenges and achieve shared goals, highlighting the crucial role of the G20 in addressing global financial imbalances and finding sustainable solutions to structural issues for developing countries.
These solutions include addressing growing debt challenges, re-evaluating the effectiveness of development aid, and bridging finance gaps for sustainable development and a transition to a low-carbon economy.
Hegazi said President Sisi also discussed at the summit efforts to combat food crises, announcing Egypt’s ambition to host a global center for grain storage and trade.
“We look forward to our summit contributing to addressing challenges that hinder economic recovery and sustainable development,” Sisi said.
Hegazi also welcomed the AU joining of G20, saying it is an important step on the road of serving interests of developing nations.
