President Sheikh Mohamed bin Zayed Al Nahyan has shown his appreciation on the UAE being included as a member of BRICS and described it as an “important group”.
Taking to his social media platform X, Sheikh Mohamed said he “respected the vision of the BRICS leadership. We look forward to a continued commitment of cooperation for the prosperity, dignity and benefit of all nations and people around the world,” he wrote.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, added that the decision is a reflection of the country’s remarkable leadership and successful international policy.
“It also consolidates the UAE’s international economic and trade position as a reliable partner linking the world’s north with its south and east with west,” he wrote. As part of the first phase of expansion, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE have been invited to join BRICS.
They will be formally admitted as members on January 1, 2024. The BRICS group of nations currently comprises Brazil, Russia, India, China and South Africa. The new candidate members were announced by South African President Cyril Ramaphosa, who is hosting the 15th summit of BRICS in Johannesburg.
“As five BRICS countries, we have reached an agreement on the guiding principles, standards, criteria, and procedures on the BRICS expansion process which has been in discussion for quite a while,” Ramaphosa told a joint media briefing.
“We have consensus on the first phase of this expansion process and other phases will follow.”
Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, was one of nearly 50 leaders who attended the main session of the BRICS summit.
Sheikh Saud expressed confidence in the strength of the UAE’s economy and global influence. The inclusion in BRICS reflects the nation’s steadfast approach to enhancing co-operation with various countries worldwide, he said.
Sheikh Saud further highlighted that the UAE has always been an advocate of the principles underpinning BRICS’ objectives and has played a significant role in supporting its international agenda. “We recognise the expansion of BRICS as an important opportunity to create a multilateral leadership model that nurtures and enriches the principles of inclusivity, tolerance and mutual respect, particularly within the region of the Global South,” he added.
He pointed out that the UAE is among the prominent trade and investment partners of BRICS, with non-oil trade between the UAE and member nations reaching $677 billion. Additionally, investment flows amounted to $38 billion between 2018 and 2022.
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