CAIRO, Dec. 29 (Xinhua) -- Egyptian President Mohamed Morsi said Saturday that the approval of the newly-written constitution means the end of the country's transition period.
In his speech during a session of the Shura Council, upper house of the parliament, Morsi said the new constitution ensures a new era to start to build the country toward its "renaissance."
"The new constitution is the fruits of all efforts exerted, and it guaranteed equal rights to all Egyptians," said the president, adding that Egypt is for all Egyptians.
Morsi called for the unity of all social spectra to build a modern state, and reiterated the importance of free media and active civil society. "I invite you all to cooperate with the government and the social authorities to issue legislation which would facilitate the stage of building."
"We are moving toward establishing state institutions and applying deep ruling to struggle against corruption. We have been through difficult economic status after an era of corruption," he added.
However, the president said the Egyptian economy has witnessed an improvement since the upheaval erupted last year, with both the fluidity index and the bank deposits having increased compared to last year.
"Without the events which echoed unpeaceful ways in the political field, we could have been achieved better improvement," he added.
For those who are talking about bankruptcy, the president affirmed that "Egypt will never kneel, as long as its people are productive."
"Production and increasing services are the top of my priorities, and with your help and the efforts of the government, we could build a nation of strong will," Morsi said, noting that an economic development council will be established to achieve economic reforms.
The president also reaffirmed Egypt's stance on the Syrian issue, noting that "Egypt is against any military solution to handle the Syrian crisis."
Saturday's Shura Council session was attended by prominent figures of the country, including heads of the al-Azhar and church, as well as former ministers and representatives from different parties.
According to the new constitution, which was approved by 63.8 percent of voters in the recent referendum, the Shura Council is tasked with the legislative authority until the People's Assembly, lower house of the parliament, is elected.
Morsi issued a republican decree last week, appointing 90 new members of the Shura Council.
After the legislative authority has been transferred to the Shura Council, the newly-appointed members started their work Wednesday with full capacity according to the presidential decree.
The decree aims at expanding the participation in the political process of various political and social powers and a number of public figures with expertise and competencies, a statement issued by MENA news agency said.