Minister says non-oil trade with BRICS countries exceeded US$312 billion last year, accounting for more than 30% of the UAE’s total non-oil trade
New Delhi: His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said the UAE’s participation in the 18th BRICS Summit in New Delhi reflects the country’s commitment to strengthening international cooperation and supporting development and peace efforts.
Speaking on the sidelines of the summit, Al Zeyoudi said the UAE delegation, headed by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, underscores the country’s active and influential role within one of the world’s most important economic and strategic platforms.
Al Zeyoudi revealed that non-oil trade between the UAE and BRICS countries exceeded US$312 billion last year, accounting for more than 30 per cent of the UAE’s non-oil trade and recording growth of 28.5 per cent compared with the previous year.
He praised India’s organisation of the summit and welcomed the issuance of the BRICS New Delhi Declaration, describing it as a reflection of the group’s priorities and future ambitions.
The minister noted that the summit agenda addressed a broad range of economic, technological, social, cultural and political issues.
He also highlighted the importance of bilateral discussions held on the sidelines of the summit, saying that growing trade flows point to significant opportunities for future economic expansion with BRICS countries, which collectively offer large markets, young populations, growing economies and advanced industrial capabilities.
Al Zeyoudi stressed the growing importance of technology and innovation across BRICS economies, noting that rapid advances in technology and the emergence of major companies are creating new opportunities for knowledge exchange and cooperation in future-focused sectors.
He reaffirmed the UAE’s commitment to advancing trade facilitation efforts and expanding free trade agreements and Comprehensive Economic Partnership Agreements (CEPAs).
Al Zeyoudi noted that the UAE had already strengthened many of these partnerships before formally joining BRICS, in line with its strategy to diversify the national economy and create new opportunities for the private sector.
He concluded by saying that the UAE’s high-level participation reflects the country’s continued support for multilateral cooperation, dialogue and international partnerships, while contributing to practical solutions that promote sustainable economic growth and prosperity.
Source: Emirates 24|7