President El-Sisi Meets the OECD

alhadath – cairo

Today, President Abdel Fattah El-Sisi received Secretary-General of the Organization for Economic Co-operation and Development, the OECD, Mr. Mathias Cormann. The meeting was also attended by Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates, Dr. Badr Abdelatty, and Minister of Planning and Economic Development, Dr. Ahmed Rostom. Representing the OECD were Director of the Centre for Tax Policy and Administration at the OECD, Ms. Manal Corwin, and Deputy Director of the OECD Global Relations and Cooperation Directorate, Mr. Karim Dahou.

Spokesman for the Presidency Ambassador Mohamed El-Shennawy said President El-Sisi welcomed the Secretary-General’s visit, emphasizing Egypt’s appreciation for the long-standing cooperation with the OECD across various economic and developmental fields. The President also expressed appreciation for the support provided by the Organization toward Egypt’s economic reform efforts and the pursuit of comprehensive development, particularly through the ongoing Country Program established in 2021.

President El-Sisi confirmed that Egypt seeks to further develop the partnership with the OECD in the spheres of economy, investment, and the enhancement of competitiveness and governance, thereby contribute to economic and institutional reform efforts. The President also reviewed the State’s endeavors to bolster the role of the private sector in the development process and to incentivize foreign and domestic investment by upgrading the relevant legislative and institutional frameworks.

President El-Sisi stressed that the State has accorded significant priority to the social dimension throughout the economic reform trajectory. The President highlighted achievements in the eradication of unsafe informal settlements, noting that approximately 350,000 families have benefited to date, with over 300,000 new, fully furnished housing units provided. This is in addition to the Presidential Initiative to eliminate surgical waiting lists, as well as the progress of the “Decent Life” (Haya Karima) initiative across its two phases, which is set to benefit more than 50 million citizens.

President El-Sisi noted that the Egyptian State has addressed various global crises over the past five years through well-studied proactive measures that have earned the commendation of international financial institutions. The President added that Egypt maintains this same approach in addressing the current crisis associated with the Iran war. President El-Sisi pointed out that Egypt has lost approximately 10 billion dollars in Suez Canal revenues as a result of attacks on vessels in Bab al-Mandab Strait, due to the ongoing war in the Gaza Strip. The President emphasized that at the same time Egypt is hosting approximately 10 million foreign nationals, who have arrived due to conflicts and crises in their respective countries. President El-Sisi confirmed that they receive the same services provided by the State to the Egyptian citizens, without exploiting this matter for political gain.

The Secretary-General of the OECD expressed his profound appreciation for his visit to Egypt and his meeting with the President. Mr. Cormann commended Egypt’s leadership role in fostering stability in the Middle East as well as its pivotal role across various cooperative frameworks with the Organization. This included Egypt’s co-chairmanship of the OECD-MENA Initiative on Governance and Competitiveness for Development.

The OECD Secretary-General also lauded the Egyptian economy’s demonstrable resilience in the face of global challenges and geopolitical tensions, as a result of the reforms and measures implemented by the State in recent years. Mr. Cormann affirmed that the Organization seeks to build upon the success of the Country Program with Egypt to sustain a constructive partnership that fulfills national priorities toward enhancing economic growth and achieving sustainable development.