International Cooperation Minister takes part in Bloomberg New Economy Forum in Singapore

Daily News Egypt
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Egypt’s Minister of International Cooperation Rania Al-Mashat visited Singapore on Wednesday to take part in the Bloomberg New Economy Forum, running from 16 to 19 November.

The forum will discuss global economic issues, address mutual visions to overcome challenges facing advanced and emerging economies, and converse about the world’s commitment to limiting climate change’s repercussions and providing the necessary funding for emerging countries to confront these repercussions. 

Over 750 economic leaders, policy makers, CEOs, and entrepreneurs will participate in the event, including Chinese Vice President Wang Qishan; United States Secretary of Commerce Gina Raimondo; Singapore’s Minister for Trade and Industry, Gan Kim Yong; Rwanda’s Minister of Finance and Economic Planning, Uzziel Ndagijimana; Tanzania’s Vice President,  Philip Isdor Mpango was sworn in as Tanzania’s Vice President; President of the Asian Infrastructure Investment Bank(AIIB), Jin Liqun; and the Founder of Bloomberg LP, Michael R. Bloomberg.

Al-Mashat shall take part in a panel discussion within the forum, on the world’s commitment to provide the necessary climate financing to address climate change’s repercussions, post the discussions held at the United Nations Climate Change Conference (COP 26). This is in addition to discussing the necessity of bridging the financing gap on the long and short terms, with the participation of governments, the private sector, International Financial Institutions (IFIs), and the civil society.

Within the framework of Al-Mashat’s endeavors to enhance economic relations with international institutions, Al-Mashat held several bilateral meetings with economic leaders and think tanks’ officials, including Former Prime Minister of the United Kingdom and President of the Tony Blair Institute for Global Change, Anthony Blair; and Vice Chairperson and CEO of the Paulson Institute, Deborah Lear. This is in addition to holding a meeting with the American Economist, Michael Bloomberg, and Minister of Energy, Climate and Electricity of Denmark, Dan Jörgensen.

It is worth noting that Minister Al-Mashat had participated in the Bloomberg Summit for New Economies last year, which was held virtually. During the forum, Bloomberg chose Egypt and the United Arab Emirates (UAE), as models for emerging economies in the region post the pandemic, as a result of the economic homegrown reforms and the opportunities that characterize both countries, despite the economic challenges on the regional and global level.

The forum’s current edition was inaugurated by the Vice President of China, where among the participants were Michael Maybach, Co-Founder and CEO of MasterCard, Bob Sternfels, Global Managing Partner of McKinsey & Company, and Dan Scholman, Founder and CEO of PayPal.

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