H.E. Minister of Planning, Economic Development, and International Cooperation Meets South Africa’s Finance Minister to Discuss Bilateral Cooperation During the BRICS New Development Bank Annual Meetings
Cape Town – August 31, 2024
During her participation in the 9th Annual Meeting of the Board of Governors of the New Development Bank (NDB), held under the theme “Investing in a Sustainable Future” from August 28-31, 2024, in Cape Town, South Africa, H.E. Egypt’s Minister of Planning, Economic Development, and International Cooperation, who also serves as Egypt’s Governor at the NDB, Dr. Rania A. Al-Mashat, met with South Africa’s Minister of Finance and NDB Governor, H.E. Enoch Godongwana.
In the meeting, H.E. Dr. Al-Mashat highlighted the longstanding, strategic partnership between Egypt and South Africa, founded on decades of solidarity and cooperation. She highlighted the importance of continued collaboration to represent the priorities of developing nations, particularly in Africa, given the regional significance of both countries, and emphasized the need to deepen ties to advance mutual interests.
Al-Mashat also reiterated Egypt’s commitment to integration with Global South nations, especially African countries, noting that countries with similar economic and social circumstances are better positioned to enhance cooperation through the exchange of successful policies and practices.
The Minister referenced Egypt’s launch of its South-South and Triangular Cooperation (SSTC) initiative in May 2023, underscoring the country’s commitment to playing a more active role in facilitating knowledge exchange among Global South nations.
H.E. Dr. Al-Mashat also reviewed actions taken by the Ministry of Planning, Economic Development, and International Cooperation since 2021 to enhance South-South and Triangular cooperation. She noted the ministry’s collaboration with the United Nations Development Programme (UNDP) in re-launching the South-South Development Academy in Egypt, the first of its kind in the Middle East and Africa, as part of the Global South-South Development Academy network.
Additionally, H.E. Dr. Al-Mashat highlighted Egypt’s hosting of knowledge exchange workshops in Cairo, bringing together African officials to share best practices in areas such as mainstreaming climate adaptation in development cooperation policies and enhancing private sector engagement. These efforts were coordinated with strategic development partners including the United Nations Office for South-South Cooperation (UNOSSC), UN Department of Economic and Social Affairs (UNDESA), the UN Economic Commission for Africa (UNECA), the Organization for Economic Cooperation and Development (OECD), the Islamic Development Bank, and the Climate Investment Funds (CIF).
During the meeting, Al-Mashat also discussed the Ministry’s collaboration with the World Food Programme (WFP) in hosting a special mission from the Southern African Development Community (SADC) in June 2024. This mission aimed to disseminate Egypt’s successful practices in promoting digital education. She emphasized that this visit aligned with Egypt’s priorities under its chairmanship of the New Partnership for Africa’s Development (NEPAD), which emphasizes enhancing cooperation between African nations in developing and implementing education strategies.
H.E. Dr. Al-Mashat stressed that Egypt and South Africa share common priorities, particularly in advancing sustainable development, eliminating poverty, and reducing inequality. She noted that these goals can only be achieved through joint efforts among Global South nations. The Minister called for organizing further knowledge exchange workshops between the two countries on issues such as enhancing private sector participation, economic planning, reform strategies, green economy initiatives, government service digitization, and boosting e-commerce.
Regarding South Africa’s upcoming presidency of the G20 in 2025, Al-Mashat expressed her hope that South Africa would focus on key principles, including the importance of national ownership of the development agenda as a cornerstone for achieving sustainable development. Coordinating efforts based on these national ownership principles will contribute to a more sustainable, just, and equitable world. She also emphasized the need to mobilize additional financing by strengthening collaboration among all relevant stakeholders, including private sector actors, while simplifying access to multilateral development banks and climate funds to ensure fair and effective allocation of resources.
