Cairo: Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, highlighted the vital role of small and medium-sized enterprises (SMEs) in transforming developing economies during the opening session of the inaugural Global Ministerial Meeting on SMEs, held in South Africa. Organized by the United Nations' International Trade Centre (ITC), the session brought together global leaders and ministers to explore how SMEs can drive inclusive and sustainable growth.

According to State Information Service Egypt, Al-Mashat emphasized that SMEs-representing over 90% of businesses worldwide and accounting for around 70% of global employment-are crucial in addressing structural challenges, especially across Africa. Citing Egypt as a successful model, she noted that SMEs contribute 43% of GDP and employ three-quarters of the labor force. She pointed to initiatives such as the 'Hafiz' platform and the Micro, Small and Medium Enterprise Development Agency (MSMEDA), which have expanded access to finance, built capacity, and advanced digital transformation to support SME development.

Al-Mashat reaffirmed Egypt's commitment to multilateral cooperation, noting the mobilization of over $15.6 billion in development finance for the private sector between 2020 and 2025. She called for enhanced global partnerships to integrate SMEs into regional value chains and align national strategies with green and digital economy priorities-positioning SMEs as a cornerstone of sustainable development and a key instrument for achieving the United Nations' Sustainable Development Goals.