Luxury One Real Estate September 2, 2023 0 Comments

BRICS invites UAE to join bloc; Sheikh Mohamed promises to work together “for the good of all nations.”

The inclusion of the Emirates as a member of “this important group” by the BRICS leadership has been praised by the president of the United Arab Emirates. The name BRICS stands for Brazil, Russia, India, China, and South Africa, all of which have developing economies. At its annual summit on Thursday, the group decided to grant full membership beginning on January 1 to the UAE, Saudi Arabia, Egypt, Argentina, Ethiopia, and Iran.

The president, His Highness Sheikh Mohamed bin Zayed Al Nahyan, commented on the microblogging site X, formerly known as Twitter, saying: “We look forward to a continued commitment of cooperation for the prosperity, dignity, and benefit of all nations and people around the world.”

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said the move is testament to the country’s balanced foreign policy.

The leader highlighted that the UAE’s membership in the group is consistent with its worldview, which is built on creating fruitful international multilateral collaborations. It strengthens the UAE’s “position in international economic and trade as a trustworthy partner connecting the world’s north to its south and east to west.”

“The UAE will continue its approach based on supporting global peace, security, and development,” Sheikh Mohammed wrote on X.

According to Reuters, the discussion on enlarging the BRICS group was the main topic of discussion during the three-day summit in Johannesburg, South Africa.

First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the United Arab Emirates, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, stated that the country’s admission to the group demonstrates how it has strengthened international partnerships, supported long-term economic prosperity through cutting-edge strategies, and cemented its position as a global hub for trade and economic development.

“The UAE continues its endeavours to build a sustainable economy and explore new opportunities in accordance with the visions of our leadership, to ensure the prosperity of its people and the world as a whole,” he posted on X.

At the summit, the UAE had a significant representation. The high-ranking UAE delegation comprised Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; Reem Al Hashimy, Minister of State for International Cooperation; and a number of top officials. They were led by His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan attended the Friends of BRICS Foreign Ministers Meeting in Cape Town in June 2023.

BRICS, which was established in 2009, has grown into a powerful voice in favor of greater participation of non-Western countries and the developing world in international affairs. It presently accounts for more than a quarter of global GDP and around 40% of the world’s population, according to AP, “although that is set to increase with the new members, which include three of the world’s largest oil producers in Saudi Arabia, the UAE, and Iran.”

The inclusion of the Emirates in the group, according to Dr. Anwar Gargash, the UAE President’s diplomatic adviser, reflects the strength of the nation’s economy, the success of its diplomacy, the confidence of the international community in its vision of prosperity and stability, and “our commitment to strengthening and diversifying our relations and partnerships to serve sustainable development.”

He said on X, “The UAE is moving ahead into new vistas of progress and rebirth.

The UAE is aware of the BRICS initiative’s crucial significance as a tool for advancing world peace, stability, and prosperity. It has been a close ally for a long time. The nation joined the BRICS New Development Bank (NDB) in October 2021. The NDB was created to mobilize funds for infrastructure and sustainable development projects in emerging markets, developing nations, and middle-income countries.

As a proponent of multilateralism, the UAE actively participates in crucial international forums, including the G20 process and interactions with the BRICS. Later this year, the UAE will play host to the COP28 UN climate change summit.


Source : Khaleej times & Twitter

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