FM: Foreign ministry is 1st line of defense for Egyptian national interests abroad
Foreign Minister Badr Abdelatty asserted that the Ministry of Foreign Affairs serves as the first line of defense for Egypt's national interests abroad.
This came during his meeting with Egyptian ambassadors who have been newly appointed to serve in various embassies and diplomatic missions around the world.
Abdelatty highlighted the pivotal role the ministry plays in representing the Egyptian state and advocating for its national interests on the international stage.
He expressed confidence in the ability of the new ambassadors to fulfill their duties efficiently and responsibly, calling on them to uphold the spirit of initiative, dedication to national responsibility and teamwork in coordination with other state institutions.
Minister Abdelatty underscored that representing Egypt abroad requires a firm commitment to defending its interests in all regional and international forums, while ensuring that diplomatic conduct reflects Egypt's rich civilization and supports its strategic goals and global image.
Abdelatty further noted that the Middle East is undergoing an exceptional phase, facing unprecedented political and economic challenges that have created a highly complex regional reality.
He reviewed the accelerating geopolitical shifts and sharp global market fluctuations, stressing that such developments impact Egypt's interests and demand that Egyptian missions continuously evolve their tools and adopt innovative approaches.
Abdelatty affirmed that the economic dimension is a key pillar of modern diplomacy, urging embassies and missions to intensify efforts in deepening economic partnerships, exploring new opportunities for investment and trade, especially in sectors aligned with national priorities.
He also stressed the need to leverage economic diplomacy in support of Egypt's efforts to localize industry, transfer technology and build domestic production capacity, in alignment with the country's drive toward economic independence and sustainable development, as outlined in Egypt Vision 2030.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Independent
an hour ago
- Egypt Independent
Egypt set to increase cigarette and alcohol prices
In its general session on Sunday, the Egyptian House of Representatives approved a government-proposed bill to amend certain provisions of Law #67 of 2016 concerning the Value Added Tax (VAT). The amendments aim to bolster the state's financial resources and enhance tax and social justice. The bill, presented to the plenary session, includes a provision to increase the minimum and maximum prices of cigarettes by 12 percent annually for three years, starting from November 2025. The bill also allows for the possibility of reducing this percentage based on production costs. Furthermore, the legislation will convert the tax on alcoholic beverages from a percentage-based system to a fixed-rate system, with progressive taxes imposed based on alcohol content. This will be accompanied by an annual increase of 15 percent for three years. The proposed law also stipulates subjecting the services of literary agencies and certain media services to VAT, while abolishing previous tax exemptions on these services to boost state revenues. Additionally, crude oil will be subjected to a 10 percent tax, with the cancellation of its previous tax exemption to further enhance public revenues. The head of the Tobacco Division, Ibrahim Imbabi, told local media that the minimum price for the first tier of cigarettes has been raised to LE48, up from LE38.8. This allows tobacco companies to increase prices up to this value. He added that the second tier's maximum price has been raised to LE69, replacing the previous LE48, with the third tier beginning at LE 69 and above.
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Dollar Slips Against Egyptian Pound Amid Diverging Bank Rates
Taarek Refaat In a notable move on Sunday, the exchange rate of the US dollar against the Egyptian pound witnessed a clear decline across several Egyptian banks, reflecting renewed shifts in foreign exchange market activity. Dollar Falls Across Major Banks The day saw a drop in dollar purchase prices at multiple prominent institutions, with key players such as the National Bank of Egypt (NBE), Crédit Agricole Egypt, First Abu Dhabi Bank, and the Arab International Bank reporting buying prices ranging between EGP 49.60 and EGP 49.64. These figures represent the lowest levels for the dollar today, indicating potential easing of demand or improved foreign currency availability. Notable Variations Highlight Market Spread Despite the downward trend, several banks maintained higher rates, pointing to ongoing variation in dollar liquidity and demand between institutions. The Export Development Bank of Egypt listed the dollar at EGP 49.83, while Industrial Development Bank posted EGP 49.87. The highest rate recorded was at Abu Dhabi Islamic Bank (ADIB), where the buying price reached EGP 49.88. Market Dynamics in Play These shifts in pricing are being closely watched by financial analysts, who suggest a range of possible drivers—from central bank policy influence to short-term fluctuations in foreign inflows. The spread in rates also suggests that some banks may be more aggressively competing for dollar reserves than others, depending on their exposure and client demand. Looking Ahead As currency traders and economic observers assess this movement, attention will likely focus on any statements or interventions by the Central Bank of Egypt, especially amid ongoing regional financial developments and global monetary tightening. The coming days will be critical in determining whether this dollar retreat marks the beginning of a broader trend or a temporary correction in Egypt's foreign exchange market. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Daily News Egypt
an hour ago
- Daily News Egypt
Sakan Developments launches EGP 4.8bn Park-U project in El Shorouk City
Sakan Developments has announced the launch of its latest project, Park-U, located in El Shorouk City, with total investments exceeding EGP 4.8bn. This ambitious development marks a significant milestone in the company's growth strategy. Sakan Developments has already delivered more than 56 projects and handed over over 250 residential units, with total investments surpassing EGP 3.7bn, primarily in El Shorouk City and New Cairo. Spanning a total land area of 15,000 square meters, Park-U features an operational built-up area of 69,300 square meters. The project aims to serve as a vibrant hub for business and leisure, reflecting the company's commitment to providing integrated, high-value developments in emerging urban areas. Walid Khattab, Chairperson of Sakan Developments, commented: 'This project is part of our ongoing commitment to delivering innovative solutions that meet the aspirations of the Egyptian market. Park-U is designed to respond to growing demand for modern commercial spaces in East Cairo.' Ahmed Taher, Head of the Commercial Sector at Sakan Developments, added that development of Park-U will span 42 months, starting in June 2025, with the first units expected to be delivered and operations commencing by early 2029. He highlighted the project's strategic location, situated near the New Administrative Capital, which positions Park-U as a promising commercial and lifestyle destination. The development is expected to attract not only El Shorouk residents but also professionals, visitors, and residents of the New Administrative Capital, serving the needs of thousands in the coming years. Taher also emphasized the project's strong investment potential, given the increasing demand for commercial, retail, and entertainment spaces in rapidly developing urban zones. Park-U is set to play a key role in enhancing economic activity in El Shorouk and its surrounding areas. To ensure the highest standards in design and execution, Sakan Developments has partnered with a group of renowned companies, including ACE Moharram-Bakhoum, KAD, Smarch Architects, Kelma Developments, Sedra Electric, and e& business (Etisalat). Each partner brings specialized expertise to ensure the successful delivery of the project. Park-U reflects Sakan Developments' broader vision to contribute to Egypt's urban expansion through high-quality, future-ready developments that align with market trends and evolving consumer needs.
