Egypt's Minister of Planning and Economic Development, Hala El-Sayed, spoke on the pressing issue of global food security at the 27th St. Petersburg International Economic Forum (SPIEF). Speaking at a session titled “The Role of BRICS in Ensuring Global Food Security,” El-Sayed highlighted the potential of the BRICS+ alliance in tackling this crucial challenge, especially in the face of rising geopolitical tensions and climate change.
El Sayed highlighted the harsh reality of world hunger remaining at high levels despite a relative plateau in 2021-2022. He highlighted the vulnerability of agri-food systems to market fluctuations and external shocks, such as conflict, extreme weather events and economic downturns. He further highlighted the significant environmental impacts of agri-food systems, which are responsible for one-third of global greenhouse gas emissions.
To address these complex issues, the Minister proposed a multifaceted approach centered on cooperative efforts among BRICS+ countries. He noted that the group's collective strengths, including vast agricultural lands, diverse resources, technological innovation and large consumer markets, will be a powerful engine for change.
El-Sayed advocated for knowledge sharing and technology transfer, especially in areas such as renewable energy, digital agriculture and climate-smart agriculture. He also called for increased investment in agricultural research and development, infrastructure development and policy harmonization.
The Minister stressed the importance of trade within the BRICS+ bloc and underscored the need for common product standards, streamlined operational methods and the removal of trade barriers. He also highlighted the potential of the BRICS+ initiative to create a new platform for regional and bilateral alliances and promote deeper economic cooperation among member states.
El-Sayed further highlighted the role of the New Development Bank (NDB) and the Emergency Reserve Arrangement in providing financial stability and support to member countries, and called for increased local currency lending in the region to reduce transaction costs and exchange rate volatility.
Speaking about the Egyptian situation, El-Sayed outlined the government’s efforts to ensure food and water security, including a national strategy for food security that focuses on horizontal expansion, modern agricultural practices and strengthening livestock and fish production.
El-Sayed concluded her speech by emphasizing the importance of continued collaboration and innovation within the BRICS+ framework to ensure global food security for all. “By focusing on these areas of research, policymakers and stakeholders can develop more effective strategies to harness the BRICS potential to ensure global food security for all,” she said.
