UAE's role in BRICS summit of great strategic importance, says Al Zeyoudi

Dr. Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said that the UAE's participation in the 18th BRICS Summit in the Indian capital, New Delhi, with a delegation headed by Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, is of great strategic importance and reflects the UAE's active and influential presence in one of the world's most important economic and strategic platforms.

In statements on Sunday, Al Zeyoudi said the UAE's participation underscores the country's commitment to strengthening international cooperation and supporting development and peace efforts.

He revealed that non-oil trade between the UAE and BRICS countries exceeded $312 billion last year, accounting for more than 30% of the UAE's non-oil trade and registering growth of 28.5 % compared to the previous year.

Al Zeyoudi praised India's success and excellence in organising and hosting the summit and in issuing the "BRICS New Delhi Declaration", which reflects the group's priorities and ambitious vision for the future.

He noted the comprehensive nature of the summit's agenda, which addressed a wide range of economic, technological, social, cultural and political issues.

He also highlighted the importance of bilateral discussions and issues addressed on the sidelines of the summit, stressing that growing trade indicators reflect promising prospects for future economic growth with BRICS countries, which boast vast markets, young populations, rapidly growing economies and advanced industrial bases.

Al Zeyoudi underscored the pivotal role of technology and innovation in BRICS economies, noting that rapid advances in technological applications and major companies are opening up broad opportunities for sharing expertise and enhancing bilateral cooperation in future-oriented sectors.

He stressed the UAE's keenness to make the most of the summit's discussions to advance trade facilitation efforts and expand the scope of free trade agreements and comprehensive economic partnerships.

He explained that the UAE had already strengthened such partnerships ahead of joining the group, as part of its strategic vision to diversify the economy and open new markets for the UAE private sector.

Al Zeyoudi concluded by affirming that the UAE's high-level participation reflects the country's steadfast approach to supporting multilateralism, strengthening dialogue and international partnerships, and contributing to practical solutions to development challenges in a manner that ensures sustainable global growth and prosperity.

WAM