Egypt seeks to activate outputs of COP27 during G20 Summit in 2023: Foreign Ministry

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Egypt expressed its intention to raise the issue of supporting and activating the outputs of the Sharm El-Sheik Climate Change Conference (COP27), and the fulfillment of developed countries’ commitments and pledges regarding financing, during the next G20 Summit, next year in India.

Raji Al-Itribi, Egypt’s representative to G20, and Assistant Foreign Minister for Multilateral, International and Regional Economic Affairs, participated in the first meeting of the representatives of the Heads of State and Government, in the Indian city of Udaipur, to develop a road map for the meetings of the G20 under the Indian presidency.

Al-Itribi stressed the need to mobilize private investment in priority development sectors in developing countries, especially energy, food, and infrastructure, including through the use of innovative and mixed funds.

He also stressed the need to facilitate the access of developing economies to advanced technology in the areas of boosting production and productivity in the agricultural sector, and to adopt policies that support the further integration of small and medium-sized industries in developing countries into the international trade system.

He pointed out the importance of having an active and constructive role for the G20 in light of the current international economic conditions, which are very complicated.

Egypt also expressed its intention to cooperate and coordinate with the Indian presidency on issues of common priority, in particular the preparation and launch of an initiative by the Group on strengthening global food security and supporting international financial institutions to make them more efficient in the face of successive global crises.

“It will also cooperate with India and push forward the WTO reform agenda, prepare an action plan to advance the implementation of the Sustainable Development Goals (SDG), establish a center of excellence for research purposes in the field of green hydrogen, make recommendations for equitable energy transition, and come up with a framework to advance the integration of developing economies into global value chains” Al-Itribi concluded.