What Egypt”s plans to adapt to the ‘New Normal’ Post-COVID Economy
Egypt is welcoming the international community to “the new normal” — a two-speed world in which two types of economies are emerging: low-growth and high-growth.
Success at this stage requires rethinking international cooperation for new emerging economies, and understanding the different ways each economy operates while taking into considering their own different ways of looking at the world to provide global sustainable solutions.
This message will be highlighted at the inaugural Egypt International Cooperation Forum (Egypt – ICF) taking place in Cairo, Egypt between 8-9 September 2021.
Held under the patronage of His Excellency Abdel Fattah Al Sisi, President of the Arab Republic of Egypt, the event will aim to create a vibrant ecosystem to mobilize the global development community and assert their collective commitment to sustainable development as a catalyst for the post-pandemic economy
The two-day hybrid event, will host distinguished national, regional and international policymakers, private-sector stakeholders, development leaders, civil society bodies and think tanks. It will comprise high-level panel discussions, specialized workshops, capacity-building sessions for national and regional participants as well as development cooperation projects’ visits.
Participants set to attend the event include His Excellency Prime Minister Mostafa Madbouly, Her Excellency Dr. Rania A. Al-Mashat, Egypt’s Minister of International Cooperation; Amina J. Mohamed, Deputy Secretary-General of the UN and Chair of the United Nations Sustainable Development Group, Borge Brende, President, World Economic Forum; Vera Songwe, Under Secretary-General and Executive Secretary of The Economic Commission For Africa at the United Nations; Jeffrey Schlagenhauf, Deputy Secretary-General of the Organization for Economic Cooperation and Development (OECD); Bader al-Saad, Director General of the Arab Fund for Social and Economic Development.
A new era for the international community
Speaking ahead of the event, Her Excellency Dr. Rania A. Al-Mashat, Egypt’s Minister of International Cooperation, said: “Today, the focus has shifted to new emerging economies such as Egypt. We are the heart of international cooperation, and with less than decade to achieve the Sustainable Development Goals, it’s clear that the world is counting on us and that our efforts need an urgent reset.
“The International Cooperation Forum is an attempt to redesign international cooperation to reflect the new face of the global economy, and to galvanize a renewed global momentum behind international cooperation to push for global solutions that address the most critical issues our world faces today.
She added: “We are entering a different era, and the International Cooperation Forum represents a unique opportunity for international stakeholders to understand the needs of different economies and meet, collaborate and set in motion regional and global cooperation mechanisms to meet the challenges of the next decade.
“With the global pandemic causing unprecedented economic disruption and the rate of climate change growing more alarming by the day, international cooperation and economic diplomacy has never been more important. Only though multilateralism, cooperation and multi-stakeholder participation can the global community help developing economies build back better.”
The International Cooperation Forum is aiming to conclude with the Cairo Communiqué, which is set to identify priorities and provide global solutions that reflect the world’s most critical challenges in order to guide policy-makers and government through the post-pandemic recovery.
The first day will include four key panel sessions to steer the conversation on the role of international cooperation in fostering private sector engagement and how prosperity, the planet, people and the role of institutions need to be balanced.
The second day will feature a number of high-level workshops that will define a more comprehensive blueprint to guide policy makers and stakeholders, with a focus on Africa’s socioeconomic development. The workshops will tackle the Africa Continental Free Trade Area (AFCFTA) – prospects and challenges of digital trade for private sector; mapping Official Development Assistance (ODA) to SDGs – a tool for effective policy making; Women in business in Africa – supporting female entrepreneurship in Egypt; food security and employment in the digital age; the demographic divide: youth and innovation for transforming Africa; and triangular co-operation with Africa.