The UAE’s growing economic influence and deeper global ties are driven by its BRICS membership, strengthening connections with China and India and boosting international collaboration.
UAE Deepens Economic Ties With China and India Through BRICS Collaboration
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UAE’s Economy Gains Momentum Through BRICS Alliance, Strengthening Ties With China and India
The United Arab Emirates (UAE) has strengthened its economy and broadened its global connections through its membership in BRICS, according to Abdulla Bin Touq Al Marri, the country’s minister of economy. Speaking to Japan’s Nikkei Asia, Al Marri highlighted the significance of BRICS in bolstering the UAE’s economic position by fostering closer ties with leading economies such as China and India. He was quoted by Tass as saying:
The UAE has always been a place where the economy has built on the strengths and ties of major economies. The inclusion in BRICS brings the UAE strength, as well as ties with major economies such as China, India.
Al Marri emphasized the broader role of BRICS in facilitating international collaboration and communication, stressing the importance of ongoing dialogue between nations. “The world needs more dialogue and conversation, and the BRICS bring that as well,” he remarked. His comments reflect the UAE’s growing engagement with the alliance, which aims to amplify the influence of emerging economies on the global stage. The UAE’s participation in BRICS aligns with its broader economic strategy to diversify partnerships and attract investment.
Russia currently leads the BRICS alliance, with its presidency set to conclude at the end of 2024 following the summit held in Kazan from Oct. 22 to 24. Brazil will assume the presidency starting Jan. 1, 2025. BRICS, originally formed in 2006 by Brazil, Russia, India, and China, expanded in 2011 with South Africa’s inclusion. The group further widened in January 2024 with the addition of the UAE, Saudi Arabia, Egypt, Iran, and Ethiopia.
Additionally, the UAE’s membership in the BRICS New Development Bank, which it joined in October 2021, underscores its dedication to international development initiatives. The UAE’s active participation in BRICS is expected to foster new growth opportunities and contribute to global development efforts.
