Egypt and Saudi Arabia Strengthen Economic Cooperation

Rania A. Al-Mashat, Egypt's Minister of Planning, Economic Development, and International Cooperation, met with H.E. Faisal F. Alibrahim, Saudi Minister of Economy and Planning, at the G20 Development Ministerial Meeting in Rio de Janeiro, Brazil. They discussed enhancing bilateral relations, rooted in their historical ties, and addressed key topics on the G20 agenda, including pressing global development issues. The ministers emphasized the need for joint coordination in light of the complex challenges facing the global economy. The goal of the G20 Brazil is to reduce inequality, combat poverty, and support triangular cooperation. In this regard, Al-Mashat highlighted that integrating emerging economies and G20 members can yield effective solutions to these challenges. They also explored strengthening cooperation in implementing the Sustainable Development Goals (SDGs) and overcoming obstacles to progress. Additionally, they discussed enhancing South-South and triangular cooperation to unlock the potentia l of developing countries through innovative solutions and knowledge sharing. Al-Mashat noted the Ministry's efforts to launch a South-South and Triangular Cooperation Strategy this year during the first forum of the New Development Bank (NDB) in Egypt, aimed at replicating successful development experiences among emerging nations. The Ministry also released a report titled 'International Partnerships to Advance South-South and Triangular Cooperation,' documenting its initiatives to maximize partnerships with development stakeholders and promote expertise sharing across the African continent and the Global South, contributing to efforts to bridge technological, knowledge, and financing gaps in developing countries. Source: State Information Service Egypt