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
See - Sada Elbalad
42 minutes ago
- See - Sada Elbalad
Silver Slips Amid Easing Tensions and Investor Shift Toward Bonds
Waleed Farouk Silver prices in the local Egyptian market declined by 1.5% over the past week, mirroring a marginal global drop of 0.03% in ounce prices. This pullback comes amid easing geopolitical tensions and rising U.S. bond yields. The price of 800-grade silver opened the week at EGP 51.25 per gram and closed at EGP 50.50, down by EGP 0.75. On the global front, silver opened at $35.93 per ounce, briefly touched $36.83, and ended the week at $35.92—marking a $0.01 drop. As of the latest quotes, the local market saw 800-grade silver at EGP 51.25 per gram, 999-grade at EGP 63, and 925-grade at EGP 58.50. A silver pound (925-grade) was priced at EGP 468. The price retreat followed reports of progress in ceasefire talks between Israel and Iran, which reduced demand for safe-haven assets and ended a multi-day rally. Despite pulling back from 13-year highs, silver still maintains gains exceeding 20% since the beginning of the year, suggesting a market repricing rather than a full reversal of the bullish trend. The downturn was driven by declining geopolitical risks, as de-escalation talks between Israel and Iran dampened investor appetite for defensive assets like silver, which had previously rallied by nearly 30% during the first half of 2025. This shift in investor sentiment forced funds to rebalance their positions after losing one of the key catalysts for silver's recent surge. Meanwhile, results from the U.S. Federal Reserve's 2025 stress tests showed that 22 major American banks maintain strong capital positions. This eased concerns about financial sector stability, further weakening demand for metals as crisis hedges. Expectations for a Fed rate cut have also diminished, with markets currently pricing in only a 25% probability of a rate reduction in July—despite pressure from former President Trump. This signals a more hawkish monetary stance that reduces silver's appeal as a non-yielding asset. Although the U.S. dollar index declined slightly, 10-year Treasury yields surged to 4.275%, boosting the attractiveness of fixed-income assets over precious metals. The rise in real yields represents an opportunity cost for holding silver, prompting many investors to shift toward bonds—especially in the absence of strong downward pressure on the dollar. Despite the recent drop, silver remains one of 2025's strongest performers, supported by several structural factors: record-high gold prices, which historically pull silver upward due to their close correlation; a persistent supply deficit, marking the fifth consecutive year of market shortage; and surging industrial demand, particularly from the green technology and electronics sectors, alongside renewed safe-haven buying amid continued geopolitical and economic uncertainty. Analysts at Citibank expect silver prices to continue climbing, potentially reaching $40 per ounce within 6 to 12 months and even hitting $46 by Q3 2025, driven by supply shortfalls and robust industrial momentum. Ultimately, silver's performance will hinge on the path of U.S. monetary policy and developments in the Middle East. Any renewed escalation or a dovish pivot by the Federal Reserve could reignite bullish momentum for the white metal. 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
Middle East
an hour ago
- Middle East
OPEN// Egypt keen to advance cultural diplomacy
CAIRO, June 29 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty on Sunday lauded the close cooperation with the Ministry of Culture. During his meeting with Minister of Culture Ahmed Fouad Henno, Abdelatty emphasized commitment to strengthening the cultural dimension within diplomatic work as a fundamental pillar of Egypt's foreign policy. He also commended the pivotal role played by the National Library and Archives in preserving the nation's heritage and history. Abdelatty expressed his aspiration to deepen cooperation with the National Library and Archives, particularly in restoring international treaties and documents signed by Egypt with other countries, as well as in preserving valuable books, references, and historical maps held by the foreign ministry. He further welcomed collaboration on projects related to the digitization of books and archival records. Discussions also addressed ways to boost the promotion of diverse cultural activities abroad through Egyptian embassies and consulates and to increase Egypt's participation in international cultural events to elevate its global standing and showcase the unique richness of Egyptian civilization. (MENA) M S H/R E E
Al-Ahram Weekly
2 hours ago
- Al-Ahram Weekly
Ahead of Israel visit, Austrian minister warns of deteriorating Gaza conditions in Egypt talks - Foreign Affairs
Austrian Federal Minister for European and International Affairs Beate Meinl-Reisinger sounded the alarm over Gaza's deteriorating humanitarian conditions during high-stakes talks in Egypt on Saturday, kicking off a diplomatic tour that will next take her to Jordan and Israel. In a meeting with Egyptian Foreign Minister Badr Abdelatty, Meinl-Reisinger demanded an immediate ceasefire in Gaza and the release of hostages, according to a statement from the Austrian foreign ministry. She urged unhindered access for humanitarian aid to Gaza, where Israel has been blocking food, water, and medical aid for months, putting the strip's 1.9 million population, including children, at risk of famine. Separately, Egypt's foreign ministry stated that Abdelatty briefed Meinl-Reisinger on Cairo's ongoing efforts to secure a Gaza ceasefire and facilitate humanitarian and relief aid deliveries to the strip. He reaffirmed Egypt's steadfast commitment to the two-state solution, emphasising the need for a political path to establish a Palestinian state based on the 1967 borders with East Jerusalem as its capital. This, he asserted, is the 'sole viable route' to achieving peace, security, and stability in the region. Egypt's top diplomat also raised concerns about escalating dangers in the West Bank, citing continued Israeli military operations and settler violence against Palestinian civilians. Both ministers highlighted the deteriorating humanitarian situation in both Gaza and the West Bank, according to the Egyptian statement. The Austrian minister's program in Egypt included a visit to the Red Crescent's operational area, where relief supplies for Gaza are collected and packaged, the Austrian statement said. She later told reporters that the humanitarian situation in Gaza is 'unbearable.' She noted that for the EU, the resumption of aid deliveries to Gaza is crucial, but also acknowledged what she called 'Israel's security concerns,' according to media reports. Furthermore, she added that Israel severing ties with UNRWA — the main UN agency for Palestinian refugees — was 'not acceptable at this stage.' The EU must start talks with Israel, the minister said, adding that there must be progress by the next EU meeting on the issue. According to Austrian media, Meinl-Reisinger will land in Jordan on Sunday and then in Israel the following day for meetings with Jordanian and Israeli officials. Egypt-Austria ties The Egyptian foreign ministry stated that Abdelatty also expressed to her Austrian counterpart Egypt's keen interest in deepening all aspects of cooperation with Austria. He emphasised the importance of building on the outcomes of recent high-level visits, most notably the Austrian Chancellor's visit to Cairo in March 2024. The discussions highlighted opportunities for expanding cooperation in economic, trade, and investment sectors, activating the Egypt-Austria Joint Committee, encouraging Austrian investment in Egypt, and enhancing collaboration in labor organization, scientific and cultural exchange, tourism, renewable energy, and counterterrorism efforts. After the consultations, the two ministers signed a Memorandum of Understanding launching a political consultation mechanism between Egypt and Austria, aimed at further developing and expanding bilateral relations. For her part, Meinl-Reisinger said Egypt is also an indispensable partner for Austria and the European Union in combating irregular migration, according to the Austrian statement. 'Egypt is not only a popular travel destination for Austrians, but also the second most important export market in Africa and an anchor of stability in a volatile region,' the statement quoted her as saying. Follow us on: Facebook Instagram Whatsapp Short link:
