Egyptian Minister of Industry and Trade Ahmed Samir Saleh said Egypt will open a trade “window into the Middle East and North Africa” after joining BRICS on January 1, 2024.
“Egypt is BRICS’s window into the region of the Middle East and North Africa, and its geographical location also provides it with the opportunity to play a more significant role in selling products of BRICS member states to the African continent.’’
According to Saleh, the accession of Egypt to the group and the decision of the BRICS New Development Bank in Dec. 2021 to admit Egypt into the ranks of its members confirm “the strength of economic and political ties” between Cairo and the group’s member states.
The Egyptian trade minister noted the growth in trade between Egypt and the bloc, saying that in 2022, their total trade amounted to about 31.2 billion dollars up from 25.5 billion dollars in 2021.
“We believe that joining the group is an opportunity to strengthen constructive cooperation with member states,’’ Saleh said in his interview with Sputnik.
In August 2023, the 15th top-level BRICS summit in Johannesburg extended invitations to Egypt, as well as Argentina, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia to join the bloc.
Their full membership took effect on January 1, 2024, except for Argentina, which abandoned its plans to join the group under the new president, Javier Milei.
Source: Vanguard
