ABU DHABI, 24th August, 2023 (WAM) — Minister of Economy Abdullah bin Touq Al Marri said that the inclusion of the United Arab Emirates (UAE) in BRICS opens up significant development prospects due to the presence of several of the fastest growing economies in the world, namely Brazil, Russia, India, China and South Africa.

“The UAE’s membership in BRICS creates enormous economic, trade and investment opportunities that will bring about a paradigm shift not only in the economic environment of the BRICS countries, but also in the global economy,” the minister added in today’s statement. following the announcement of the UAE’s BRICS membership by the international bloc.

Al Marri added: “Today’s economic blocs are one of the most visible trends shaping the current and future economic scene and would contribute significantly to the stability and growth of the global economy. , the development of international trade and investment flows, and the flexibility of global supply chains”.

“Joining this new economic bloc is increasingly important as the UAE pursues its policy of economic openness and expands its network of global business contacts,” he explained.

“These developments also support the creation of new businesses in critical areas, contributing to the long-term growth of the UAE economy and strengthening its positive and significant position in the global economy,” he concluded.

Translated by: Mervat Mahmoud.

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