President Abdel Fattah al-Sisi received the President of the Republic Egypt The Arabic language, Matthias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development, in the presence of a number of senior officials, including Badr Abdel-Aty and Ahmed Rostom, along with officials from the organization.
The official spokesperson for the Presidency of the Republic, Ambassador Mohamed El-Shenawy, stated that President Sisi welcomed the visit, praising the longstanding cooperation between Egypt and the organization, especially in supporting economic reform efforts and achieving comprehensive development, particularly through the Country Programme for Cooperation established since 2021.
Strengthening economic and institutional partnerships
President Sisi affirmed Egypt’s aspiration to expand areas of cooperation with the organization, especially in the sectors of economy, investment, enhancing competitiveness and governance, in a way that supports the path of economic and institutional reform.
He also reviewed the state’s efforts to enhance the role of the private sector and stimulate local and foreign investment, through the development of legislative and institutional frameworks, in order to create an attractive investment environment.
The President stressed that the social dimension is a key focus of the economic reform program, pointing to a number of initiatives and achievements, including the elimination of slum areas, where more than 300,000 new housing units were provided for the benefit of about 350,000 families.
He also referred to the presidential initiative to end surgical waiting lists, along with progress in implementing the Decent Life initiative, which aims to improve the living standards of more than 50 million citizens.
Repercussions of global crises
The meeting touched on global economic challenges, with the President explaining that Egypt has dealt with international crises in recent years with proactive measures that have been praised by international financial institutions.
He pointed to losses estimated at about $10 billion in Suez Canal revenues, as a result of attacks on ships in the Bab al-Mandab Strait, against the backdrop of the ongoing war in the Gaza Strip.
He also pointed out that Egypt hosts about 10 million foreigners affected by conflicts, who receive the same services provided to citizens, without this being exploited politically.
International praise for the performance of the Egyptian economy
For his part, Matthias Cormann expressed his appreciation for visiting Egypt and meeting the President, praising the regional role that Cairo plays in promoting stability in the Middle East region.
He also praised the resilience of the Egyptian economy and its ability to cope with global challenges and geopolitical tensions, stressing the organization’s aspiration to build on the success of the current cooperation program and strengthen the partnership in a way that supports sustainable development priorities and promotes economic growth in Egypt.
