The Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat stated that the international community has a responsibility to support developing countries, and countries in economic transition, to address the challenges they might be facing, and to support their progress towards achieving sustainable development through multilateral cooperation. This came during Al-Mashat’s participation in the 24th St. Petersburg International Economic Forum (SPIEF) held from June 2 to June 5, in a session titled “World Fairs and International Cooperation as a Driver of Sustainable Global Development”. The session was attended by the Russian Minister of Industry and Trade, Denis Manturov; UAE’s Minister of International Cooperation, H.E. Reem Al Hashimy, the Chairman and President at Skolkovo Foundation, Arkady Dvorkovich; Japanese Politician and Mayor of Osaka, Japan, Ichirō Matsui; and the media session moderator, Tina Kandelaki. Al-Mashat emphasized the need for the world to affiliate through multilateral cooperation in order to promote sustainable development. Global partnerships are necessary for developing countries that may not have the sufficient resources needed to achieve sustainable progress and growth. The Minister also added that development is for the general benefit of all countries, individuals and organizations; placing multilateral cooperation as a priority to be able to address challenges related to health, food security, climate change, and financial instability. How can traditional institutions address global uncertainty? Talking about global uncertainty and the way institutions handle it, Al-Mashat said that the world is faced with an era characterized by rapid change due to globalization and technological developments. The fast paced connectedness has shifted global markets and global uncertainty has economic impacts on the business community. The Minister added that many organizations around the world are seeking to take bold steps to achieve growth, by adopting new technologies and innovative policies. Uncertainty varies across countries and is dependent on many factors pertaining to each country. Al-Mashat added that the uncertainty index has declined in recent months compared to 2020; this is due to a decline in the economic and trade tension between the United States of America and China, and due to Britain’s exit from the European Union. The uncertainty index regarding the COVID-19 pandemic has also decreased as many countries began vaccination campaigns. Will understandings on international cooperation and technology change? Al-Mashat said that international cooperation is increasingly important in today’s world to ensure global support, and solidarity, and to distribute development gains and transfer experiences, knowledge and technologies in an equitable manner across countries. Such a cohesive atmosphere shall ensure a better future for all. The Minister pointed out that while modern technologies bring opportunities for progressing in sustainable development, they also pose risks. This is where the role of the United Nations emerges, to provide guidelines and support ensuring that the impact of modern technology is not negative, and that sustainable development is on track. Al-Mashat is representing Egypt in the SPIEF, a global event that is organized to discuss economic issues facing the world, including emerging markets. This year, the event is held under the theme “A Collective Reckoning of the New Global Economic Reality.”