International trade is a crucial area for the economic development of developing countries, particularly in Africa. During recent World Trade Organization (WTO) meetings, Egypt’s Trade Office in Geneva has advocated for the adoption of industrial development policies and overall development issues in developing countries, in with particular emphasis on the African continent.
In his speech, Minister Plenipotentiary of Trade and Head of the Trade Office Ahmed Maghawry stressed the importance of focusing on food security and limiting negative environmental impacts resulting from international trade. He also highlighted the need to support economic flexibility in developing countries to face global economic challenges, by adopting effective policies for technology localization and trade financing in different countries, including those affected by the debt.
Maghawry advocated promoting agricultural negotiations to strengthen overall growth aimed at achieving the Sustainable Development Goals, ending poverty and hunger, as well as fostering industrialization, digitalization and transition towards environmentally friendly economic policies.
This intervention highlights the importance of a holistic approach to economic development, highlighting strategies that promote sustainable growth and the elimination of inequalities. By promoting innovation, access to finance and environmental preservation, developing countries can embark on the path to sustainable economic prosperity.
In conclusion, the Egypt Trade Office’s calls to the WTO highlight the importance of global cooperation to support the economic development of developing countries and foster inclusive and sustainable growth. These initiatives pave the way for more equitable economic policies oriented towards a promising future for all players in international trade.