Finance Minister Ahmed Kouchouk said that Egypt looks forward to a “pivotal and influential” role for the BRICS group in advancing growth and development among member states. Kouchouk said efforts should focus on exchanging expertise on public-private partnership models and strengthening risk-mitigation mechanisms to attract more private capital.
Speaking at a meeting of BRICS finance ministers and central bank governors in India, he said that the "New Investment Platform" should open up diverse avenues for economic, financial and trade cooperation among member states. The New Development Bank, he added, could help mobilize investments and bridge development-financing gaps.
Kouchouk stressed the need for unified mechanisms to strengthen domestic revenue mobilization across BRICS countries in support of development efforts. He emphasized Egypt's strong backing of BRICS initiatives to establish a tax database for member states and develop an advanced tax system capable of meeting the needs of young people and entrepreneurs.
The Minister also called for flexible financing channels to strengthen emerging economies’ ability to achieve their development goals, highlighting the importance of leveraging low-cost financing to support the flow of private investments into productive and development-oriented sectors.
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