Today's Edition
IHAB ABDELAZIZ (ABU DHABI)
The UAE has been developing growing relations with BRICS nations, reflecting a promising future for comprehensive partnership that supports the development and prosperity priorities of both sides. This momentum is driven by the commitment of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to enhance international cooperation across various global groups, aiming for a sustainable future for all people.
The UAE’s membership in BRICS officially began in January 2024, following the approval of the five founding countries - Brazil, Russia, India, China, and South Africa - during the 15th BRICS Summit held in Johannesburg from August 22 to 24, 2023. The UAE joined the BRICS New Development Bank in October 2021, which was established in 2015 with a capital of $100 billion to mobilise resources for infrastructure and sustainable development projects in developing and emerging countries. This has led observers to consider the UAE a long-term partner of the international group.
Partnership and Development
International relations expert and former Assistant Egyptian Foreign Minister, Hamdi Saleh, stated that the UAE’s entry into BRICS represents a strong addition to the group, which encompasses some of the world’s most significant and promising economies. This positions the UAE as an important partner to major global powers like China, Russia, and India, in addition to its crucial partnerships with the European Union and the United States.
With the expansion of BRICS since January 2024, which includes the UAE, Egypt, Saudi Arabia, Ethiopia, and Iran, the group represents about 45% of the world’s population and 25% of global exports. Collectively, the GDP of member countries accounts for roughly 29% of the global GDP, representing over 16% of global trade, and covering 40% of the Earth’s land area.
Saleh emphasised that the upcoming period holds promising prospects for collaboration between the UAE and BRICS, extending beyond specific sectors to include economic, political, and technological domains. This aligns with the ambitious programmes and plans that both the UAE and BRICS are working on to achieve sustainable and comprehensive development and prosperity for various global populations.
He noted that the UAE pursues a flexible and balanced foreign policy aimed at promoting global multilateralism and enhancing international cooperation to support issues of security, peace, and development, ensuring the wellbeing and prosperity of people worldwide.
Convergence and Understanding
Dr. Mohamed Sadek Ismail, Director of the Arab Center for Political and Strategic Studies in Cairo, asserted that the significant convergence and understanding between the UAE and the founding BRICS nations - Brazil, Russia, India, China, and South Africa - will enhance cooperation in the coming years, with ample opportunities for expanding effective partnership activities.
He stated that the UAE will play an active and influential role within BRICS, leveraging its economic, political, and diplomatic weight regionally and globally. The UAE has strong ties with all BRICS nations, whether founding members or those recently joining, like Saudi Arabia and Egypt, reflecting the promising prospects for broad partnerships between the UAE and BRICS in the coming years.
Ismail highlighted that the increasing level of coordination and consultation between the UAE and BRICS countries forms a powerful global alliance on various regional and international issues - not just in economic matters. The addition of the UAE, Saudi Arabia, and Egypt to the international group has further strengthened its power and influence due to the significant regional weight and international clout of these three nations politically, economically, diplomatically, and culturally.
Strategic Cooperation
Tunisian analyst and university professor Manal Selati highlighted the promising opportunities to support and develop the partnership between the UAE and the BRICS group through strategic cooperation in various fields, including political and economic areas. This collaboration is expected to yield quality projects in energy, technology, investment, and innovation in the near future.
Selati noted that the UAE enjoys a strategic location and possesses advanced infrastructure, resources, and capabilities, enabling it to play a pivotal role in enhancing trade between BRICS countries. Additionally, it supports developmental and investment initiatives that contribute to sustainable economic growth globally.
She added that the UAE’s active membership in BRICS strengthens its strategic role in global trade movements and reinforces its positive impact on the global economy, positioning it as a key partner in fostering international cooperation and serving as a link connecting different regions of the world. The UAE is among the major trading partners of BRICS nations, with non-oil trade between them amounting to approximately $93.2 billion annually, accounting for over 20% of the UAE’s non-oil trade value.
Exceptional Opportunity
Marco Mossad, a researcher at Middle East Policy Council Washington, emphasised that the UAE and BRICS have an exceptional opportunity to deepen their partnership in the coming period, opening new horizons for cooperation and strengthening relations through various promising projects across multiple sectors.
The UAE is a global powerhouse economically, politically, culturally, and diplomatically, while BRICS represents a collection of major and promising economies. Therefore, both parties can benefit from each other’s capabilities, serving their mutual interests and creating wide economic, trade, and investment opportunities, he stated.
Over the past two decades, BRICS has achieved significant economic growth, with its contribution to global GDP rising from 17.8% to 25.7% between 2010 and 2022, according to World Bank global development indicators. This success has prompted 24 countries to apply for membership in the group to leverage its global economic weight.
He praised the UAE’s commitment to establishing partnerships and alliances with key international groups, enhancing its ability to achieve sustainable development and explore promising new opportunities for a sustainable economy.
