What will Egypt benefit from signing a strategic partnership agreement with Brazil, what can the new agreement add to the Egyptian economy, when will the new partnership be implemented, and why is the agreement considered a masterstroke from President Sisi at this time? Stay with us until the end and you will know all the details in this video.
From the hours of President Abdel Fattah El-Sisi and the President of the Federal Republic of Brazil, Luiz Inacio Lula da Silva, they announced the launch of a strategic partnership between the Arab Republic of Egypt and the Federal Republic of Brazil. This was on the sidelines of the G20 summit of the 20 most powerful economies in the world, and President Sisi received an invitation to participate, considering that Egypt is a very important country in its surroundings. It has a very promising economy and has excellent relations with Brazil for many years..
Before we talk about the new strategic partnership between the two countries, we would like to tell you that Brazil has the ninth strongest economy in the world in terms of gross domestic product, which reaches 2.13 trillion dollars, surpassing Russia and Canada according to 2023 estimates. Surely, with these numbers, you understand the importance of the new agreement and partnership with Brazil. It has huge opportunities to invest in Egypt in light of the special relations with Egypt. By the way, this is not the first agreement between the two countries, but the strategic partnership that was announced today is an extension of agreements that were signed before. This is like the memorandum of understanding between Egypt and Brazil to establish a mechanism for strategic dialogue, signed on December 27, 2009, and the memorandum of understanding to launch political consultations between Egypt and Brazil, signed on December 9, 2003, and also the agreement to establish a joint Egyptian-Brazilian coordination committee, signed on March 7, 1985.
Egypt and Brazil announced the new strategic partnership in conjunction with an important event, which is the 100th anniversary of diplomatic relations between Egypt and Brazil, which are characterized by diversity and the deepening of bilateral relations. We do not want to forget a very important thing, which is that Egypt and Brazil are members of the BRICS grouping, meaning the door is open for broad cooperation between the two countries in particular. As we said, in the field of investment, the opening of the Egyptian market to Brazilian companies, and the pumping of billions of dollars in Brazilian investments into Egypt with the entry into force of the new agreement.
The new agreement means that the economic relations between the two countries will rise to the strategic level and is the highest form of cooperation between countries, and it will make the Egyptian market a priority for Brazilian companies, with government support as well, and will enhance regional integration and advance trade and cooperation between the countries of the Global South.
According to the new agreement, we will see in the coming days an exchange of visits between high-level officials from the two countries and sectors to discuss the needs of social and economic development in the two countries, and strive to achieve mutual benefit through the Egyptian government’s presentation of investment prospects to Brazilian companies. In fact, the new strategic partnership is considered a masterstroke for President Sisi because it is coming. A very important time for Egypt to launch after the most dangerous crisis it has ever experienced, and the agreement with Brazil will open the doors of new goodness for the first time in investments, maximizing Egyptian exports to Brazil, economic integration and benefit. Also from Brazil’s experience.
