Al-Mashat : The book consolidates Egypt’s principles of economic diplomacy and highlights its role in enhancing multilateral cooperation and pushing towards achieving sustainable development
Cairo - Eco - Fady Labib : Launching the book in the presence of several eminent international economic figures and institutions reflects Egypt’s pioneering experience in international cooperation; and the collaboration with the London School of Economics gives the book an international dimension and enables developing countries to learn from Egypt’s experience in implementing modern sustainable development methodologies ...
H.E. Dr. Rania
A. Al- Mashat, Minister of International Cooperation, in collaboration with
London School of Economics, launched the book tilted: “Stakeholder Engagement
Through Economic Diplomacy” via an international event that brought together
Ms. Minouche Shafik, Director of the London School of Economics; Ms. Carmen
Reinhart, Vice President and Chief Economist of the World Bank Group and
Professor at Harvard University; and Mr. Eric Berglöf, Chief Economist at the
Asian Infrastructure Investment Bank; along with representatives from the
United Nations, the Organization for Economic Co-operation and Development
(OECD) and many other international financial institutions.
The book that
was launched today by H.E. Dr. Rania A. Al-Mashat, and Mrs. Randa Hamza,
Assistant Minister of International Cooperation for Planning and Monitoring, is
a one-of-a-kind publication documenting Egypt's experience in international
cooperation and development financing.
Al-Mashat said
during a press conference after the book launch, that the book documents the
pioneering experience of Egypt in launching a government-led framework for
economic diplomacy based on three pillars, aimed at advancing international
cooperation mechanisms to achieve sustainable development goals (SDGs). The
book further details different methodologies for mapping the allocation of the
Official Development Assistance (ODA) to the Sustainable Development Goals
(SDGs).
The Minister
of International Cooperation added that the book tackles the means of
implementing these methodologies through the ODA-SDG map available on the
Ministry’s website, allowing developing and emerging countries to benefit from
the Egyptian experience.
Al-Mashat
explained that the launch of the book through the London School of Economics,
one of the oldest economic research universities in the world, and with the
participation of eminent economic figures, reflects the unique Egyptian
approach that applies global methodologies on the national level using national
expertise. The Minister elaborated that this experience was reinforced through
the efforts made in cooperation with the International Financial Institutions
(IFIS) to advance both the national and global sustainability targets.
Al-Mashat
stated that the Ministry of International Cooperation is careful to base the
principles of international cooperation and development financing on clear
scientific foundations, and to implement them using national expertise in order
to ensure the effectiveness of these efforts in realizing Egypt’s Vision 2030,
and optimizing the impact of multilateral and bilateral partnerships.
H.E. Al-Mashat
pointed out that global economic references and literature - including Lee
& Hocking, 2010; and Pigman, 2005 - highlighted the importance of economic
diplomacy mechanisms in fostering economic, social and political relations. In
addition, they underscored the vital role of stakeholders, such as governments,
development partners, civil society, and the private sector; while emphasizing
the need for cooperation to promote and advance mutual interests towards
achieving global solidarity.
Al-Mashat
noted “the Ministry of International Cooperation launched Egypt’s principles of
economic diplomacy in order to harness the socio-economic outcomes of
development financing, as well as to ensure that development projects are in
line with national priorities and the UN SDGs, and finally to improve the
mechanisms of development cooperation to implement projects effectively”. She further
reiterated that “Egypt’s economic diplomacy rests on three principles: Multi
Stakeholder Platforms, ODA-SDG Mapping, and Global Partnerships Narrative”.
The Minister
of International Cooperation said that the world underwent great challenges
during the past year due to the perils of the Covid-19 pandemic; these
challenges highlighted the pivotal role of international cooperation as one of
the main sources of financing development, and as a framework for global
economic integration and solidarity. Hence, the framework of economic diplomacy
seeks to enhance the participation of stakeholders in formulating priorities
and pushing Egypt’s efforts towards achieving Egypt’s Vision 2030, in line with
the 17 UN SDGs.
It is worth
noting that, last week, H.E. Dr. Rania A. Al-Mashat, Minister of International
Cooperation, presented to H.E. the President of Egypt Abdel Fattah El-Sisi, the
efforts invested in curating the content of the book in order to document
Egypt’s pioneering experience in international cooperation and development
financing, crafting a model for other emerging and developing countries;
especially that Egypt one of the few countries that were able to stay the
course in the implementation of the sustainability targets, mitigating the
socioeconomic challenges in the last few years.
@ The book can be downloaded in English from the London School of Economics website through the following link :
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