Egypt reaps economic, political gains from COP27
Egypt has achieved several major deals as well as boosted its foreign policy by hosting COP27.
CAIRO — Egypt’s State Information Service (SIS) wrote in its daily report Nov. 10 that the 2022 United Nations Climate Change Conference (COP27), which Egypt is currently hosting in the Red Sea resort city of Sharm el-Sheikh, has received wide international media coverage. The summit, according to SIS, has focused on several issues, including the gains Egypt has reaped from hosting the event.
The COP27 sessions, which kicked off Nov. 7 and will conclude today, Nov. 18, were attended by several world leaders, media delegations and nonprofit organizations. During the summit, Egypt also signed a series of renewable energy agreements.
Tarek Fahmy, professor of political science at Cairo University, told Al-Monitor, that Egypt has secured a foothold on the map of regional and international relations by hosting the COP27, especially since the climate change issue has raised international concerns. Also, he explained, hosting the summit has helped Egypt promote the new pillars of its foreign policy.
According to Fahmy, Egypt consolidated its return to Africa as a representative of the continent. This was evident by the $150 million package that the United States has pledged during the summit in support of African countries to address the consequences of climate change.
