BRICS in Egyptian Media
Digest - (15.06.2023 - 13.02.2024)
Article 1
Date: 13.02.2024
Publisher: Almasry Alyoum
Link:
https://www.almasryalyoum.com/news/details/3098926The news article reports that Egypt's Foreign Ministry has appointed Raji Atallah as a personal representative of President Sisi to the BRICS and G20. The article discusses the diplomatic representation of Egypt in these international forums. The news is significant as it pertains to Egypt's engagement with major global platforms and the representation of the country's interests in these forums.The appointment of Raji Atallah as a personal representative of President Sisi to the BRICS and G20 is a notable diplomatic move for Egypt, and the coverage by Al-Masry Al-Youm underscores the newspaper's focus on reporting key political developments and foreign policy initiatives.
Article 2
Date: 12.02.2024
Publisher: Al-Ahram Gate
Link: https://gate.ahram.org.eg/News/4700604.aspxThe news article discusses the plans of the Egyptian Businessmen's Association to create an electronic platform for exports in collaboration with the Export Committee. The platform aims to implement international agreements, allowing member companies to benefit from them and to open up new markets, particularly in BRICS member countries. Additionally, the association aims to enhance communication with civil society organizations, both local and international, and to organize various events to introduce the use of new technologies in different economic sectors represented by the association.The article highlights the efforts of the Egyptian Businessmen's Association to facilitate and expand the country's exports by leveraging digital platforms and strengthening ties with international markets and organizations. This initiative reflects Egypt's commitment to enhancing its global economic engagement and leveraging technological advancements to boost its export capabilities.
Article 3
Date: 12.02.2024
Publisher: Al-Ain
Link: https://al-ain.com/article/world-government-summit-report-the-future-of-bricsThe news article from Al-Ain discusses the release of a report by the World Government Summit and the Thinksat Foundation on the future of "BRICS+." The report evaluates the strategic trends that will shape the future, specifically focusing on the potential development of the BRICS group and its relationship with the West in the coming decade. It presents a set of scenarios that assess the evolution of the BRICS+ relationship with the West in the next decade, including the potential growth of BRICS+ as an alternative economic force, the addition of more emerging economies as members, and the diversification of its trade relationships. The report provides insights into the potential dynamics of global economic and geopolitical developments.The World Government Summit and Thinks Report have released a joint report titled "BRICS and the West: What to Expect in the Next Decade?" The report evaluates scenarios for the evolution of the BRICS+ relationship with the West in the next decade. It outlines a range of scenarios, including the growth of the BRICS+ as an alternative economic force, with more emerging economies joining as members, increasing the diversification of their trade relations, and accelerating the shift away from using the dollar. The report aims to research and evaluate the strategic trends that shape the future. The article also mentions the dynamic and flexible economy of the UAE and the World Government Summit 2024 as a live experience of artificial intelligence technology.
Article 4
Date: 12.02.2024
Publisher: Al-Ain
Link: https://www.copts-united.com/Article.php?A=779963&I=5457The news report from Copts United discusses the significant investment power of the BRICS countries, which is estimated at around $45 trillion, according to a report by "Henley & Partners." The report also highlights the substantial expansion of the BRICS group in 2024, with the addition of Saudi Arabia, Iran, Ethiopia, Egypt, and the UAE to the existing members (Russia, Brazil, India, South Africa, and China). It is noted that the ten countries have 1.6 million individuals with investable assets exceeding $1 million, including over 4,700 individuals with over $100 million, and more than 500 billionaires. The report anticipates an 85% growth in the number of millionaires over the next ten years.
Article 5
Date: 08.02.2024
Publisher: Youm7
Link: https://m.youm7.com/story/2024/2/8/%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%85%D8%B9%D8%AF%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%B5%D9%86%D9%8A%D8%B9-%D9%88%D8%A7%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%A3%D8%A8%D8%B1%D8%B2-%D9%83%D9%8A%D9%81-%D8%AA%D8%B3%D8%AA%D9%81%D9%8A%D8%AF-%D9%85%D8%B5%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85/6474019Egypt is looking to benefit from joining BRICS (the association of five major emerging economies: Brazil, Russia, India, China, and South Africa) by increasing its manufacturing and production rates. A study by the Faros Center for Strategic and African Studies revealed that Egypt aims to attract a large number of future projects, especially in digitalization, agricultural development, environmental investments, and infrastructure from major global investors and business leaders in BRICS countries. This move is expected to secure the country's essential food needs, such as wheat, and other industrial products at low prices. Egypt also seeks to import raw materials at reduced prices, particularly products like electronic devices.
Article 6
Date: 01.01.2024
Publisher: Youm7
Link: https://m.youm7.com/story/2024/1/1/%D9%85%D8%B5%D8%B1-%D8%B9%D8%B6%D9%88%D8%A7%D9%8B-%D8%B1%D8%B3%D9%85%D9%8A%D8%A7-%D8%A8%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-%D8%A8%D8%AF%D8%A7%D9%8A%D8%A9-%D9%85%D9%86-%D8%A7%D9%84%D9%8A%D9%88%D9%85-%D9%85%D8%B5%D8%AF%D8%B1-%D8%A8%D9%82%D8%B7%D8%A7%D8%B9/6433523Egypt officially became a member of the BRICS group, starting from January 1, 2024. This membership is expected to facilitate trade exchanges in local currencies and enhance the quality of Egyptian industries. According to recent data from the Central Agency for Public Mobilization and Statistics, the value of Egyptian exports to BRICS countries increased by 5.3% in 2022, reaching $4.9 billion, while the value of imports from BRICS countries also rose by 11.5% to $26.4 billion. The trade volume between Egypt and BRICS countries reached $31.2 billion, reflecting a 10.5% increase.The news also mentions that Egypt is in talks with the United Arab Emirates to develop a $22 billion beach land project, which could potentially boost the country's troubled economy. The project is expected to create new job opportunities and generate significant foreign currency earnings.
Article 7
Date: 04.09.2023
Publisher: Al Jazeera
Link: https://www.aljazeera.net/ebusiness/2023/9/4/%D8%B9%D8%B6%D9%88%D9%8A%D8%A9-%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-%D9%87%D9%84-%D8%AA%D9%86%D9%82%D8%B0-%D9%85%D8%B5%D8%B1-%D9%85%D9%86-%D8%B4%D8%AD-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1%D8%9FThe article discusses how Egypt's membership in the BRICS group of developing nations could potentially reduce its reliance on the US dollar and attract foreign investment. The BRICS group, which includes Brazil, Russia, India, China, and South Africa, has a combined economy of $25.9 trillion and controls 20% of global trade. Egypt hopes to benefit from increased trade exchanges in local currencies and enhance the quality of its industries. However, analysts caution that it may take time for Egypt to see the benefits of its BRICS membership.The article also mentions that Egypt is facing significant economic challenges, including a foreign exchange shortage and a severe economic crisis characterized by a weak currency, soaring inflation, and capital flight. The country is in advanced discussions with the International Monetary Fund (IMF) regarding the augmentation of the Egyptian loan program. Additionally, Egypt is in talks with the United Arab Emirates to develop a $22 billion beach land project, which could potentially bolster the country's troubled economy.
Article 8
Date: 26.08.2023
Publisher: Shourouk news
Link:https://www.shorouknews.com/mobile/columns/view.aspx?cdate=26082023&id=b8c8c664-9bcf-4a38-bf00-e2c24d07fad9The article discusses how Egypt's membership in the BRICS group of developing nations could potentially reduce its reliance on the US dollar and attract foreign investment. The BRICS group, which includes Brazil, Russia, India, China, and South Africa, has a combined economy of $25.9 trillion and controls 20% of global trade. Egypt hopes to benefit from increased trade exchanges in local currencies and enhance the quality of its industries. However, analysts caution that it may take time for Egypt to see the benefits of its BRICS membership.The article also mentions that according to recent data from the Central Agency for Public Mobilization and Statistics, the value of Egyptian exports to BRICS countries increased by 5.3% in 2022, reaching $4.9 billion, while the value of imports from BRICS countries also rose by 11.5% to $26.4 billion. The trade volume between Egypt and BRICS countries reached $31.2 billion, reflecting a 10.5% increase.
Article 9
Date: 24.09.2023
Publisher: Masrafeyoun
Link: https://masrafeyoun.ebi.gov.eg/2023/09/24/%D8%A5%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-brics/Egypt has joined the BRICS group, which includes Brazil, Russia, India, China, and South Africa. Despite being emerging economies, there are significant economic disparities among the BRICS countries, including income inequality, poverty rates, and differences in infrastructure and development levels. The article also mentions that Egypt is preparing to issue a new law to regulate alternative finance activities, including P2P lending, crowdfunding, ROSCA, and other newly developed digital financing activities. This new law will set the legislative framework for regulating digital alternative finance platforms in the Egyptian market, leading to the availability of different new financing services within the Egyptian market to meet the needs of the regulatory and supervisory requirements.
Article 10
Date: 02.01.2024
Publisher: Youm7
Link: https://m.youm7.com/story/2024/1/2/%D8%B3%D9%81%D9%8A%D8%B1-%D8%B1%D9%88%D8%B3%D9%8A%D8%A7-%D8%B9%D8%B6%D9%88%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D9%84%D9%84%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-%D8%AA%D8%B3%D9%87%D9%85-%D9%81%D9%89-%D8%A7%D8%AA%D8%AE%D8%A7%D8%B0-%D9%82%D8%B1%D8%A7%D8%B1%D8%A7%D8%AA-%D9%85%D9%87%D9%85%D8%A9/6434018The article reports on the Russian ambassador's statement regarding Egypt's membership in BRICS, emphasizing the importance of Egypt's membership in making important decisions for the future of the world. The ambassador also expressed hope for the completion of negotiations on a free trade agreement between Egypt and the Eurasian Economic Union this year, after resolving some outstanding issues related to trade between the two sides. The article notes that six rounds of negotiations have been held since 2019, but they were suspended due to COVID-19. The free trade agreement is expected to provide an opportunity for Egypt to increase its trade with the member countries of the union.
Article 11
Date: 30.11.2023
Publisher: Youm7
Link: https://m.youm7.com/story/2023/11/30/%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-55-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7-%D9%88%D9%86%D8%B4%D8%A7%D8%B7%D8%A7-%D9%82%D8%A7%D8%A6%D9%85%D8%A7-%D8%A8%D9%8A%D9%86-%D9%85%D8%B5%D8%B1-%D9%88%D8%AF%D9%88%D9%84-%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-%D9%88%D9%86%D8%B3%D8%AA%D9%87%D8%AF%D9%81/6394352The article discusses the existing projects and activities between Egypt and the BRICS countries, as well as the target of 235 projects. It highlights the presence of 518 companies from BRICS countries in Egypt's telecommunications and information technology sector from 2020 to the end of October 2023. Additionally, it mentions that 926 companies from "BRICS Plus" countries are investing and operating in the agricultural and food sector in the Egyptian market. The article also touches on sustainable finance, focusing on the general strategy of the New Development Bank in providing the necessary financing for various sectors, as well as the movement in the industrial, food security, and other areas of cooperation.
Article 12
Date: 15.06.2023
Publisher: CNN Arabic
Link: https://arabic.cnn.com/world/article/2023/06/15/egypt-is-applying-to-join-the-brics-reduce-dependence-on-dollarEgypt has officially applied to join the BRICS group, as confirmed by the Russian ambassador in Cairo. The purpose of this membership is to reduce dependence on the US dollar in trade with the group's members. This move comes less than two months after President Abdel Fattah al-Sisi approved Egypt's membership in the New Development Bank, which is affiliated with BRICS. The BRICS group, consisting of China, Russia, India, Brazil, and South Africa, represents 30% of the global economy, 26% of the world's land area, and 43% of the world's population. Egypt's trade with BRICS countries exceeded $25 billion in 2022. The article also discusses the potential impact of Egypt's BRICS membership on its economy and international relations.
Article 13
Date: 15.06.2023
Publisher: Alhurra
Link: https://www.alhurra.com/egypt/2023/06/15/%D9%8A%D8%AD%D9%84-%D8%A8%D8%B1%D9%8A%D9%83%D8%B3-%D8%A3%D8%B2%D9%85%D8%A9-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9%D8%9FThe article discusses the potential impact of Egypt's membership in BRICS on its economic crisis. It highlights the importance of the BRICS group, which represents 30% of the global economy, 26% of the world's land area, and 43% of the world's population. The article also mentions the potential benefits of reducing dependence on the US dollar in trade with the group's members. However, the article also notes that joining BRICS could cause a rift between Egypt and its Western counterparts, especially the United States. The article concludes by stating that the success of Egypt's membership in BRICS will depend on its ability not to be drawn into international polarization.
Article 14
Date: 13.02.2024
Publisher: Ahram online
Link: https://english.ahram.org.eg/NewsContent/1/1234/517659/Egypt/Foreign-Affairs/Egypt-will-urge-trade-in-national-currencies-withi.aspxEgypt is planning to urge BRICS member states to trade in their national currencies, according to a statement by the Ministry of Foreign Affairs, quoting the newly appointed Personal Representative of President Abdel-Fattah El-Sisi to the BRICS Summit Ambassador Ragy El-Etreby. Dealing in national currencies is seen as a way to alleviate the rising costs of using foreign currencies due to high global inflation. The ambassador has been directed by the presidency to promote industrial, agricultural, and service cooperation between the bloc’s nations. Egypt's trade exchange with BRICS members, including both founding and new members, amounts to $46.673 billion, which is more than one-third of the country's total external trade. El-Etreby also assumed responsibility as the personal representative of the Egyptian president at the Group of 20 (G20), where Egypt will seek to highlight priority issues in Egypt, Africa, and other developing nations, such as enhancing food and energy security, developing international debt governance, and reforming the multilateral financial, monetary, and trade system.
Article 15
Date: 18.02.2024
Publisher: New Arab
Link: https://www.newarab.com/news/egypts-brics-membership-officially-activatedEgypt's membership in the BRICS economic bloc was officially activated on January 16, 2024, as Russia assumed leadership of the group, which now comprises ten countries. The BRICS welcomed its five new members, including Egypt, Saudi Arabia, UAE, Iran, and Ethiopia, in August 2023 during the group's summit in South Africa. The integration of new member states marked a major expansion for the bloc, originally founded by Russia, Brazil, China, and India in 2006 and later joined by South Africa in 2011. Egypt's membership in BRICS comes at a time when the country is facing a severe economic downturn and record inflation, making it difficult for the country to repay its external debts. The article also mentions that Egypt's external debt soared by 5.1 percent during the fourth quarter of 2022, reaching $162.94 billion, a total of $10 billion more than the previous quarter, according to official figures.
Article 16
Date: 24.08.2023
Publisher: Madamasr
Link: https://www.madamasr.com/en/2023/08/24/news/u/as-brics-extends-egypt-invitation-to-join-economic-bloc-what-does-cairo-stand-to-gain/The article "As BRICS extends Egypt invitation to join economic bloc, what does Cairo stand to gain?" was published on August 24, 2023, by Madamasr. The article discusses Egypt's approval to join the BRICS group of world economies, as announced in the closing declaration from the annual BRICS summit in Johannesburg. The article also explores the potential benefits and implications of Egypt's inclusion in BRICS, including the possibility of gaining new investment relationships and reducing dependence on the US dollar. It highlights the economic perspectives of two experts, discussing the potential impact on investment, trade, and the country's overall economic situation. Additionally, the article addresses the challenges and limitations associated with Egypt's membership in BRICS, as well as the domestic and international debates surrounding this decision.
Article 17
Date: 13.02.2024
Publisher: Al-Ahram
Link: https://english.ahram.org.eg/NewsContent/1/1234/516958/Egypt/Foreign-Affairs/Egypt-participates-in-BRICS-countries-meeting-in-M.aspxEgypt participated in the BRICS member states meeting in Moscow for the first time as a full member. The meeting, attended by the Egyptian Deputy Foreign Minister and the country's Ambassador to Russia, aimed to strengthen cooperation and coordination among member states. Egypt's membership in BRICS aligns with its strategic role in promoting peace and development regionally and internationally. The country also advocated for enhancing cooperation and coordination among BRICS countries and received massive support for its vision. Additionally, Egypt plans to urge BRICS member states to trade in their national currencies. The information is from the Egyptian Ministry of Foreign Affairs and the State Information Service. The article was published on February 13, 2024, by Al-Ahram and the State Information Service.
Article 18
Date: 01.01.2024
Publisher: Egypt Today
Link: https://www.egypttoday.com/Article/1/129518/Egypt-s-membership-in-BRICS-activated-welcomed-by-RussiaEgypt's membership in the BRICS group was activated on January 1, 2024, and was welcomed by Russia, the current chair of the group. This activation was a result of an invitation extended to Egypt, along with other countries, by South Africa during the group's 15th summit. Egypt's participation in the BRICS countries meeting in Moscow was significant as it marked the first time the country attended as a full member. The meeting aimed to strengthen cooperation and coordination among the member states. President Abdel Fattah El-Sisi expressed appreciation for the confidence of the BRICS member states and stated that Egypt looked forward to cooperating with them. The information is from the State Information Service and Egypt Today. The article was published on January 1, 2024, by Egypt Today and the State Information Service.
Article 19
Date: 13.02.2024
Publisher: Ahram Online
Link: https://english.ahram.org.eg/NewsContentP/3/515127/Business/Egypt-officially-in-BRICS-What-should-we-expect.aspxEgypt's membership in the BRICS group officially came into effect in January 2024, aligning itself with five other new members, heralding a wave of anticipated benefits for the country. Economists expressed their positive outlook regarding Egypt's potential gains from BRICS membership. In the short term, the trade partnership between Egypt and the bloc's countries is expected to be active, focusing on the food security file due to Russia's significant role as the primary supplier of Egypt’s wheat imports. Additionally, efforts will concentrate on boosting revenues within the tourism sector. Egypt's trade exchange with BRICS members, including founding and new members, amounts to $46.673 billion – or more than a third of the country's total external trade, according to official data of 2022 and 2023 numbers. Egypt's BRICS membership presents a lot of opportunities, including an increase in the volume of international trade, diversification of export destinations, and access to cutting-edge technologies and expertise.
Article 20
Date: 02.02.2024
Publisher: Daily News Egypt
Link: https://www.dailynewsegypt.com/2024/02/02/brics-nations-chart-new-course-with-expansion-and-shared-priorities/The article titled "BRICS Nations Chart New Course with Expansion and Shared Priorities" was published on February 2, 2024, by Daily News Egypt. The article reports on the first BRICS Sherpas and Sous-Sherpas meeting under Russia's chairmanship, which took place in Moscow. The meeting welcomed five new members, including Egypt, Iran, UAE, Saudi Arabia, and Ethiopia, with the aim of strengthening the alliance's voice in global affairs and building a more equitable multipolar world order. Discussions addressed crucial areas like healthcare and technology, and the group aims to forge a more equitable and prosperous future by addressing shared priorities and leveraging diverse perspectives. The article also highlights Russia's emphasis on developing economic connections within the group and exploring the use of national and local currencies in cross-border transactions to minimize reliance on the current global economic system. The information is from Daily News Egypt and TV BRICS.
The digest was prepared by the BRICS & SCO Innovative Diplomacy Center. Author: Ayad Fadi Michel Azmi