UAE Joins BRICS to Boost Global South Economic Development

The United Arab Emirates (UAE) is committed to supporting the economic development of the Global South by becoming a member of the BRICS group, said Younis Haji Al Ghori, Undersecretary of the Ministry of Finance.

The UAE aims to foster cooperation among BRICS countries to achieve the shared goals of financial stability, sustainable growth and enhanced trade and financial cooperation.

The UAE’s participation in the BRICS system is expected to promote balanced economic relations, promote sustainable national economic growth and enhance its influence in emerging and developing markets, particularly through infrastructure projects in countries of the Global South.

Also, the UAE will support the New Development Bank’s efforts to advance the development agenda for emerging markets and developing countries.

In January 2024, the United Arab Emirates officially joined BRICS under the leadership of Russia, along with Egypt, Iran, Saudi Arabia and Ethiopia.