Amid a world food crisis, largely affecting Egypt, Sisi has called for an international solution to the global grain crisis, while addressing the St. Petersburg International Economic Forum.
Egypt’s Abdel Fattah Al-Sisi on Friday said, “Egypt appreciates its historical friendship with Russia”, calling for the need to reach an international solution to the global grain crisis.
“There is a need to work to restore international stability and calm in order to mitigate the effects of this economic crisis on people seeking peace and development,” he said.
This came in word via videoconference at the 25th edition of the St. Petersburg International Economic Forum (SPIEF), currently being held in Russia from 15-18 June.
The SPIEF’s 25th session began last Wednesday, where Egypt is considered a guest country in the forum.
Sisi said that Egypt’s being the guest country at the forum’s jubilee is testimony to the distinguished relations between the two nations.
“Egypt appreciates its historical friendship with Russia,” Al-Sisi stated, adding that “the economic relations between Egypt and Russia have reached a “distinguished level” over the past two years.
“This year’s forum is being held under unprecedented political and economic conditions and challenges, and we hope that the forum’s outputs will contribute to finding effective solutions to mitigate the global economic crisis and its negative repercussions,” he said.
Sisi said that facing the global crises demands international effort and cooperation from all parties to restore normalcy, especially in maritime traffic and the regularity of supply chains of food, including grains and vegetable oils.
Sisi also asserted that “There is a need to work to restore international stability and calm to mitigate the effects of this economic crisis on people seeking peace and development,” which is considered an indirect reference to the repercussions of the Russian-Ukrainian war that erupted last February.
He also highlighted joint projects with Russia, including the establishment of a Russian industrial zone in the Suez Canal Economic Zone and the cooperation between the two countries in upgrading Egypt’s railway networks.
Sisi called on companies participating in the SPIEF to seize the huge investment opportunities currently available in Egypt in all fields.
Egypt is one of the largest consumers of wheat around the world, with an average of 23 million tons annually, of which nine million tons are local production, and the rest is imported.
It is noteworthy that many countries of the world suffer from a grain crisis due to the inability of cargo ships to leave Ukrainian ports due to the war that has been ongoing since 24 February.
In 2021, crops from Russia and Ukraine accounted for about 28 per cent of the world’s wheat exports.
Last Wednesday, President of the European Commission Ursula Von Der Leyen announced in a press conference in Cairo that Europe would immediately support Egypt with €100 million and provide €3 billion to the region in the coming years to counter the damage to food supplies.