Egypt, BRICS… future economic power

Written by: Mahmoud Saeed

Translated by: Hend Safwat

Now our world is on the cusp of a fourth industrial revolution, which is completely converted into a knowledge and digital economy in light of accelerating technological and technical developments in various fields, which makes it necessary for states to keep peace with this fateful shift. Those who don’t have this future of economic power, won’t be able to remain at the forefront and perhaps won’t be able to survive. Additionally, this makes our precious homeland has a great opportunity to achieve economic integration and access safely to the future, in the partnership with the BRICS.
The future of Egyptian cooperation with the BRICS countries -is an acronym that refers to Brazil, Russia, India, China, and South Africa- can be anticipated, as Egypt, Saudi Arabia, Iran, UAE, Argentina and Ethiopia will be full members of BRICS with effect from January 2024, amid the interest of dozens of countries around the whole word to join the group that aims to build a common knowledge economy with a close look at the capabilities available to the group’s countries.
This group has unique geographical presence among the largest consumer market in the world, which connects 3 continents and constitutes 88% of the earth’s population, as 61% of population live in Asia (4.7 billion people), 17% in Africa (1.3 billion people) and 10% in Europe ( (750 million people), while representing 27% of the global GDP and 18% of world trade and BRICS’S exports rose from $3.4 to $4.1 trillion, as well as BRICS has two of the world’s largest oil importers and third of the largest producers in the world.

The BRICS countries have a financial abundance and advanced position among the Global Group of 20(G20). Moreover, it has emerging markets and promising opportunity for growth that stemming from their economic visions, as well as, China’s Belt and Road initiative, while China has become one of the largest forces in the world in technological and technical expertise. In addition to the preparing of the BRICS’s current currency, which could threaten the dollar’s throne.
The only thing that remains for Egypt is continuing joint efforts to develop the potential growth in the field of business and the joint investments climate with BRICS countries, in order to fulfilling the requirements of the “the future economy”. The opportunity now is favourable for achieving economy glory in light of the growth and prosperity of Egypt-BRICS relations, through common and advanced expertise, Egyptian territory could be converted into a basic pillar of technology and a copy of Chinese technical market in the Middle East, which work on distributing the outputs and products of this joint cooperation to the markets of Aisa, Africa and Europe and it will be a new source for the following future sectors:
The Renewable energy technology and the techniques and applications of artificial intelligence such as: Education, Health, Sports, Cognitive computing, Internet of things, Virtual reality, Augmented reality, big data, 5th generation mobile network (5G), Predictive cybersecurity systems, Biotechnology, Blockchain technology, Edge computing, 3D printing, robotics industry, drone industry, electric cars, space exploration, heavy and military industries, and etc.

• There is no doubt that the Egyptian cooperation with China, Russia and BRICS’S countries in these future fields will bring mutual benefits for all. Our dearest Egypt ensures the converting to “the knowledge economy” which based on innovations, while China and technological countries get benefits from our homeland, though return on investments and considering our ancient land with its genius position in the Middle of the world as a fundamental and indispensable logistics station to ensure easy access to the markets of Middle East , Africa, and Europe, which means establishing a future infrastructure that serves the orientations of Egypt and BRICS countries and achieving the goals of sustainability and quality of life programmes.
  The peak of the importance of Egyptian integration with BRICS group reach with what world is witnessing, includes a comprehensive change in the concepts of spending, the disappearing of many jobs and economics sectors with the rapid evaluation of machine and human thought, and the appearance of new sectors that expected to supply the future economy is expected to increase by about $30 trillion by 2025.
  According to” Future Opportunities 2020” report published from the UAE governments, these sectors include: Big data, developments, quality of life economy, circular developments, culture of alternative use to ownership, reducing carbon emissions and biotechnology, which proving the essential of keep up with technological changing and advanced knowledge that drives Egypt and G20 to the path of inclusive and sustainable developments.