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EconomieDavos Forum, how does Egypt benefit from participating in the World Economic Forum? Tuesday 17/January/2023 - 01:17 PMDavos Forum, Veto

 Department of Economics - Agencies 

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Davos Forum 2023 Economists commented on Egypt's participation in the World Economic Forum in Davos, saying that participation is important for reviewing economic developments.

Events of the World Economic Forum Davos

Yesterday, Monday, the activities of the World Economic Forum Davos 2023 were launched under the slogan "Cooperation in a divided world" amid fears of a global recession crisis, while Egypt is participating with a high-level delegation among delegations of 52 heads of state and government.

The delegations include 56 ministers of finance, 19 governors of central banks, 30 ministers of commerce and 35 foreign ministers, while Egypt is participating with a high-level delegation headed by Dr. Hala Al-Saeed, Egyptian Minister of Planning and Development.

Egypt's participation in the Davos Forum

Dr. Sherif Al-Diwani, Head of the Middle East Department at the Davos Forum , previously said that Egypt's participation in the forum is an opportunity for Egypt to fully rearrange global trade in light of the successive crises of Europe and the global economy, according to Al-Ain news newspaper.

Davos Economic Forum, veto

He added that the world is currently focusing on economic resilience and dealing with persecuting crises, which gives the Egyptian economy a good opportunity in 2023 by participating in the forum in determining its position in global trade, especially with expectations of recession in Europe in the coming period, which is greater than the United States of America.

He added that the effects of the Russian-Ukrainian war and the Corona pandemic are one of the main axes of the Davos Global Forum, in light of the fears of the upcoming global recession.

He said that Egypt has a good opportunity through participation to support its economy, especially in light of its geographical proximity to Europe, which represents Egypt's main economic partner.

5 Western European countries accounted for more than 26% of total Egyptian exports during the past year, according to data from the Central Agency for Public Mobilization and Statistics, with a value of $9 billion: Italy, Malta, Spain, the United Kingdom and France.

According to the data, Egyptian exports included petroleum and its products, followed by iron and its products, aluminum and its products, and plastics and its products.