The United Arab Emirates (UAE) has officially joined the BRICS group, a significant step that underscores its commitment to multilateralism and global economic cooperation.
This move aligns with the UAE's ongoing efforts to build strategic partnerships with countries and international organizations, enhancing the sustainability and competitiveness of its economy.
Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, highlighted that the UAE’s accession to BRICS is in line with the "We the UAE 2031" vision, which aims to position the country as a key player in global economic cooperation.
Al Khoori emphasized that this membership will bolster the UAE's efforts to establish balanced economic relations, drive sustainable national economic growth, and strengthen its presence in emerging markets.
The UAE's leadership in international trade cooperation, exemplified by its hosting of the 13th WTO Ministerial Conference in 2024, has played a pivotal role in addressing global economic challenges. Through Comprehensive Economic Partnership Agreements, the UAE has solidified its role in global trade, further enhancing its capacity to support regional and global economic growth.
Al Khoori noted that the UAE is keen to boost economic collaboration with BRICS nations by identifying opportunities for trade enhancement, financial stability, and support for sustainable development goals. The country aims to balance global policy priorities with the needs of the Global South, ensuring that international policies reflect the interests of developing nations.
Moreover, the UAE's participation in BRICS opens new avenues for collaboration in the financial sector, providing exceptional opportunities for UAE financial institutions. With BRICS now representing 45% of the world's population and 29% of global GDP, the UAE's membership is set to create significant economic, trade, and investment prospects, reinforcing its position as a leading global economic hub.
News Source: Emirates News Agency
