Stanislav Ivanov, leading researcher at IMEMO RAS, candidate of historical sciences

Russia’s BRICS chairmanship since January 2024 has been under the motto “Strengthening multilateralism for equitable global development and security” and is accompanied by a noticeable expansion of this organization. As is known, the leaders of 23 states have already expressed their desire to join the relatively new authoritative international association. Following the results of the BRICS summit held in August 2023, the UAE, Saudi Arabia, Iran, Egypt and Ethiopia were officially invited to take part in the work of this organization.

From the very beginning, Russia supported the Egyptian side’s intention to become a full member of the association. Russian President V. Putin, during a video conference with his Egyptian counterpart Abdel Fattah al-Sisi in January 2024, emphasized that new opportunities are opening up for increasing fruitful cooperation between our countries in connection with Egypt’s accession to BRICS. “During the Russian presidency of BRICS this year, Russia will do everything possible to ensure that Egypt effectively integrates into the work of the association,” V. Putin said and invited his colleague to take part in the BRICS summit in October 2024 in the capital of Tatarstan, Kazan.

As you know, the Arab Republic of Egypt plays a very important role in global and regional geopolitics. This is facilitated by the country’s special geographical position at the junction of three continents (Africa, Asia and Europe), control over the Suez Canal, the Nile River Delta and the Mediterranean coast, which are strategically important for world trade and shipping. Egypt is one of the oldest civilizations on our planet with a population of 112 million, the country has a fairly developed infrastructure and economy, oil and gas fields, and modern armed forces.

The importance of Egypt as one of the leaders of the Arab and Islamic world is generally recognized; it is no coincidence that the headquarters of the League of Arab States (LAS) is located in Cairo. Egypt is also a member of the African Union and pays considerable attention to maintaining mutually beneficial, good neighborly relations with African countries. Saudi Arabia, the UAE, China, the Russian Federation, South Africa, Turkey, and the EU countries confidently occupy their niche in relations with Egypt; priority is given to cooperation in the field of energy and investment in the Egyptian economy. Agriculture (up to $9 billion per year) and engineering products are becoming one of the main export goods of Egypt.

Relations at the highest and other levels between the Russian Federation and Egypt have acquired a stable and regular character. In October 2018, the heads of state signed the Agreement on Comprehensive Partnership and Strategic Cooperation, which entered into force on January 10, 2021. The fairly high level of foreign policy ties and contacts of the Russian Federation with Egypt is supported by cooperation between the countries in trade, economic and other areas, annual trade turnover is growing and has already reached $6.5 billion. The total volume of Russian investments in the Egyptian economy in 2022 amounted to $7.6 billion. A number of large-scale projects are being implemented, the most significant of which is the al-Dabaa nuclear power plant. The largest Russian oil and gas companies, such as Rosneft, Lukoil, and Zarubezhneft, maintain their positions in the Egyptian energy market. Cooperation in the field of military-technical cooperation continues; Russia provides significant assistance in maintaining Soviet weapons and military equipment in combat-ready condition, supplies new modern weapons, and helps create a national military industry. Contacts are maintained between intelligence services and law enforcement agencies in order to combat terrorism and organized crime. The first joint Russian-Egyptian military exercise “Defenders of Friendship 2016” took place. In October 2019, a solemn opening ceremony of the fifth joint Russian-Egyptian airborne troops exercise took place at a military base in the suburbs of Cairo. Bilateral ties in the fields of science, space research, culture and education are being strengthened; over 12 thousand Egyptians are studying at Russian universities.

Egypt is a member of the UN, Arab League, African Union, OIC, Non-Aligned Movement, Global South, is a partner of the OSCE, SCO, and an associate member of the European Union. Egypt pays significant attention to interaction with the six countries of the Nile River basin. The slogan “Egypt is the pinnacle of the African continent,” formulated in the preamble of the 2014 Constitution of Egypt, is firmly being realized during the presidency of al-Sisi. A “Tripartite Infrastructure Fund” has been created in Cairo to administer the Renaissance hydroelectric complex, a deal has been concluded with Tanzania to build a hydroelectric power station, and steps are being taken to improve relations with the Libyan government in Tripoli. Egypt is very actively involved in most peacekeeping operations and UN missions in Africa, and acts as a mediator in resolving the situation in the Gaza Strip.

Egypt’s foreign policy during the presidency of A.F. Al-Sisi has acquired a stable and balanced character and ensures not only the internal and external security of the state, but also the progressive development of its economy. Egypt’s Vision 2030 aims to improve the country’s economic and political environment in eight key areas, including improving the quality of life, ensuring economic growth, establishing security stability and expanding ties with countries in the region and around the world. There is reason to believe that Egypt will cope with the most pressing current problems of a socio-economic nature, maintain the status of a regional power and remain one of the leaders of the Arab, African and Muslim worlds.

Egypt acutely feels the injustice of the current global financial economic system due to its dependence on world prices for natural resources and agricultural products, as well as the conditions that the IMF sets for it to receive financial assistance. By joining BRICS, Cairo hopes to minimize the crisis in its economy, reduce dependence on the United States, diversify external relations and priorities, in particular, support the BRICS initiative to transfer trade to alternative currencies, “whether national or the creation of some kind of joint currency.” Back in March 2023, Egypt joined the New Development Bank, one of the BRICS institutions, conceived as an alternative to the Western Bretton Woods system (IMF and World Bank). Egypt expects an increase in investment from BRICS members – China, India, Brazil, Saudi Arabia and Russia, as well as strengthening trade and economic cooperation with South Africa. Cairo also hopes to gain access to new high-tech products produced by India, China and Russia.

It should be noted that China recently created an industrial zone in the Suez Canal area. The emergence of such industrial economic zones as Russian, Chinese, and in the future, perhaps Indian, will allow Egypt to create logistics hubs, including grain, gas, oil, and so on, which will support the Egyptian economy. This can consolidate the efforts of the BRICS member states to use the logistics capabilities of Egypt in the interests of all countries participating in the association. It is expected that the accession of Egypt and other new members to BRICS will have a positive impact on world politics and economics. This association will be able to play a vital role in the system of checks and balances in global processes, ensuring strategic stability, international and regional security and reducing tensions between the West and the East.

The BRICS countries already contribute more to global GDP than the industrialized G7 countries. Brazil, Russia, India, China and South Africa currently account for 31.5% of global GDP, while the G7 (Canada, France, Germany, Italy, Japan, UK and US) share of the global economy has fallen to 30%. It is expected that by 2030, BRICS will produce more than 50% of global GDP, which will be facilitated by the expansion of the organization through the accession of a number of large countries such as Egypt, Iran, Saudi Arabia and others.