BRICS Meeting
The United Arab Emirates (UAE) actively participated in the inaugural BRICS Finance Ministers and Central Bank Governors meeting held in São Paulo, Brazil. The UAE delegation, led by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, demonstrated the country’s commitment to playing an influential role within the BRICS group. As a global center for trade and economic development, the UAE aims to collaborate with BRICS nations to establish sustainable development policies, effective financing solutions, and advanced digital infrastructure. This engagement contributes to international cooperation and the coordination of financial and economic policies for the benefit of nations worldwide.
UAE's Role in BRICS:
The UAE’s strategic partnership with the BRICS group is evident through its active involvement in various forums and initiatives. The country officially joined Brics after a successful application ratified by the founding nations. Additionally, the UAE became a member of the BRICS’ New Development Bank, which mobilizes resources for infrastructure and sustainable development projects. The UAE’s inclusion in Brics strengthens the group’s ability to achieve its objectives and reinforces its role in international cooperation, particularly in the pursuit of sustainable development.
Key Discussions and Objectives:
During the meeting, Mohammed Al Hussaini emphasized the significance of the discussions surrounding the financial track priorities framework of Brics. The delegates exchanged views on crucial matters, including the development of monetary and financial systems, innovative methods for financing and implementing infrastructure projects, and the role of multilateral financing in attracting investments. These discussions aim to enhance the attractiveness of infrastructure investment and establish effective governance frameworks on a global scale.
Collaboration and Cooperation:
The UAE is committed to collaborating with Brics nations to facilitate comprehensive cooperation across various business sectors, particularly between emerging and developing economies. The focus lies in fostering partnerships between the public and private sectors, sharing expertise in infrastructure financing, and promoting international cooperation. By working together, these nations aim to support stability, development, and prosperity globally.
Conclusion:
The UAE’s participation in the BRICS Finance Ministers and Central Bank Governors meeting underscores its dedication to global financial cooperation. With its pivotal role as a global trade and economic hub, the UAE aims to contribute to the establishment of sustainable development policies, innovative financing solutions, and advanced digital infrastructure. By engaging with Brics nations, the UAE is actively strengthening international cooperation and coordinating financial and economic policies for the benefit of all nations.
UAE's Collaborative Role in BRICS: Advancing Solutions for Global Challenges
Within the BRICS group, the United Arab Emirates (UAE) actively seeks to foster fruitful collaboration among member nations to address the pressing challenges of our time. As a strategic partner, the UAE’s involvement in various BRICS forums, including the recent Finance Ministers and Central Bank Governors meeting, highlights its commitment to collective solutions. This blog post explores the UAE’s pivotal role in discussions regarding financial priorities, infrastructure development, and multilateral financing within the Brics framework.
Promoting Collaborative Solutions:
Mohammed Hadi Al Hussaini, representing the UAE, expressed optimism about increased collaboration among Brics nations, recognizing their growing significance and role in international affairs. Through collective efforts, these nations aim to find solutions to the most critical challenges affecting the global community.
Focus on Financial Track Priorities:
Al Hussaini emphasized the importance of the discussions at the meeting, particularly regarding the financial track priorities framework. Key topics included the development of robust monetary and financial systems, exploring potential financing methods for infrastructure projects, and the role of multilateral financing in enhancing the attractiveness of such investments. These discussions serve as a foundation for coordinated efforts towards sustainable development and economic growth.
UAE's Strategic Partnership with BRICS:
The UAE’s strategic partnership with the BRICS group is well-established. The country participated in the Friends of Brics forum in 2023, held in Cape Town, South Africa, as part of the BRICS Foreign Ministers Meeting. Subsequently, the UAE’s official membership in the BRICS group was ratified by the founding nations. Furthermore, the UAE joined the BRICS’ New Development Bank in 2021, which plays a crucial role in mobilizing resources for infrastructure and sustainable development projects in emerging markets, developing countries, and BRICS nations.
UAE Representation in the New Development Bank:
In the New Development Bank, Mohammed Hadi Al Hussaini holds the position of governor, representing the UAE’s interests on the Board of Governors. Younis Haji Al Khoori, Undersecretary of the UAE Ministry of Finance, serves as an alternate governor, while Thuraiya Hamid Alhashmi contributes as a member of the bank’s Board of Directors. This representation demonstrates the UAE’s active involvement in shaping the bank’s policies and initiatives.
Conclusion:
As the UAE actively engages with the BRICS group, it contributes to the pursuit of collaborative solutions for global challenges. Through its participation in various forums and institutions, such as the recent Finance Ministers and Central Bank Governors meeting and the New Development Bank, the UAE reinforces its commitment to sustainable development, infrastructure financing, and international cooperation. By working together, BRICS nations can achieve their shared goals and make a meaningful impact on the global stage.
UAE's Active Participation in BRICS' Finance Ministers and Central Bank Governors Meeting: Advancing Multilateral Financing and International Monetary Policy
São Paulo, Brazil – February 28, 2024: The United Arab Emirates (UAE), represented by the UAE Ministry of Finance and the Central Bank of the UAE, played an instrumental role in the inaugural BRICS Finance Ministers and Central Bank Governors meeting, held on February 27 in São Paulo. This significant gathering focused on international monetary policy and the implementation and development of multilateral financing for infrastructure. The UAE delegation, led by His Excellency Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, underscored the country’s commitment to active engagement within the BRICS group. As a global trade and economic hub, the UAE aims to contribute to sustainable development policies, effective financing solutions, and advanced digital infrastructure in collaboration with BRICS nations.
UAE's Delegation and Importance of the Meeting:
The UAE delegation comprised esteemed members, including His Excellency Ebrahim Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE, His Excellency Ali Abdullah Sharafi, Assistant Undersecretary of the International Financial Relationship Sector at the UAE Ministry of Finance, and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations Department at the UAE Ministry of Finance. Their participation highlighted the significance of the meeting and the UAE’s dedication to fostering international cooperation and advancing financial frameworks for infrastructure development.
UAE's Role in BRICS:
His Excellency Mohamed Hadi Al Hussaini, on the sidelines of the meeting, emphasized the importance of the first BRICS meeting in 2024, held under the Russian presidency. As the UAE, a global center for trade and economic development, joined BRICS as one of the six new countries, it aims to actively contribute to the group’s objectives and strengthen its role in international cooperation for sustainable development. The UAE’s involvement further enhances BRICS’ position and supports the group’s collective efforts in tackling global challenges.
Collaborative Goals and Achievements:
Al Hussaini highlighted the UAE’s collaboration with BRICS nations in establishing sustainable development policies, implementing effective financing solutions, and fostering advanced digital infrastructure. The focus lies in promoting cooperation across various business sectors, particularly between emerging and developing economies. This collaboration also seeks to establish global governance frameworks, exchange expertise in infrastructure financing, and encourage partnerships between the public and private sectors. By doing so, the UAE and BRICS nations contribute to international cooperation, coordinated financial and economic policies, and the overall stability, development, and prosperity of nations worldwide.
Looking Ahead:
The UAE looks forward to further fruitful collaboration among BRICS nations, recognizing their increasing importance and role in international affairs. By seeking collective solutions to pressing global challenges, the UAE’s active participation in BRICS bolsters the group’s influence and strengthens international cooperation.
Conclusion:
The UAE’s active participation in the BRICS Finance Ministers and Central Bank Governors meeting highlights its commitment to advancing multilateral financing and international monetary policy. As a global trade and economic hub, the UAE’s collaboration with BRICS nations fosters sustainable development policies, effective financing solutions, and advanced digital infrastructure. Through this engagement, the UAE and BRICS nations contribute to international cooperation, coordinated financial and economic policies, and the well-being of nations worldwide.
UAE's Strategic Engagement with BRICS: Advancing Financial Priorities and Infrastructure Development
The United Arab Emirates (UAE) has emerged as a strategic partner within the BRICS group, actively participating in discussions on the financial track priorities framework. These discussions encompass critical topics such as the development of monetary and financial systems, innovative methods for financing and implementing infrastructure projects, and the role of multilateral financing in enhancing the appeal of infrastructure investments. This blog post delves into the UAE’s significant involvement in BRICS, highlighting its participation in key forums and institutions.
UAE's Participation in BRICS Forums:
The UAE’s strategic partnership with BRICS was solidified through its participation in the Friends of BRICS forum, held in Cape Town, South Africa, in June 2023 as part of the BRICS Foreign Ministers Meeting. Recognizing the UAE’s potential, the five founding nations officially accepted its membership following a successful application. In addition, the UAE joined the BRICS’ New Development Bank in October 2021. Established in 2015, the bank plays a crucial role in mobilizing resources for infrastructure and sustainable development projects in emerging markets, developing countries, and BRICS nations.
UAE Representation in the New Development Bank:
Within the New Development Bank, His Excellency Mohammed Hadi Al Hussaini represents the UAE as a governor on the Board of Governors. His Excellency Younis Haji Al Khoori, the Undersecretary of the UAE Ministry of Finance, serves as an alternate governor, ensuring that the UAE’s interests are adequately represented. Furthermore, Thuraiya Hamid Alhashmi holds an esteemed position as a member of the bank’s Board of Directors, contributing valuable insights and expertise.
Conclusion:
The UAE’s strategic engagement with the BRICS group demonstrates its commitment to advancing financial priorities and infrastructure development. Through active participation in BRICS forums and membership in the New Development Bank, the UAE seeks to foster collaboration and contribute to sustainable development initiatives. The representation of His Excellency Mohammed Hadi Al Hussaini, His Excellency Younis Haji Al Khoori, and Thuraiya Hamid Alhashmi underscores the UAE’s dedication to shaping the bank’s policies and driving progress in infrastructure and sustainable development projects.
UAE Joins BRICS: Strengthening Multilateral Cooperation for Peace and Development
The United Arab Emirates (UAE) has officially become a member of the BRICS group after a successful application ratified by the five founding nations: Brazil, Russia, India, China, and South Africa. The announcement was made during the 15th BRICS summit, where leaders from these countries convened in Johannesburg from August 22-24. The UAE’s inclusion in this extended BRICS grouping reflects its commitment to multilateral action and constructive dialogue, showcasing its dedication to championing peace and development on a global scale.
UAE's Long-term Partnership with BRICS:
The UAE has been a longstanding partner of the BRICS group, demonstrating its active engagement in fostering dialogue among developing and emerging economies. In June, the UAE participated in the ‘Friends of BRICS’ forum in Cape Town, held as part of the BRICS Foreign Ministers Meeting chaired by South Africa. Additionally, in October 2021, the UAE joined the BRICS New Development Bank, established in 2015 with the aim of mobilizing resources for infrastructure and sustainable development projects across emerging markets, developing countries, and BRICS nations.
Statements from UAE Officials:
His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, expressed appreciation for the successful application to join BRICS, emphasizing the group’s approach to partnerships and spirit of friendship. His Highness Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, highlighted the UAE’s commitment to multilateralism and partnerships for achieving development, prosperity, and mutual benefit. Minister of State Ahmed Al Sayegh emphasized the UAE’s role as a global hub for trade and economic development, with a focus on long-term economic prosperity and innovative strategies. Her Excellency Reem Al Hashimy, Minister of State for International Cooperation, emphasized the UAE’s belief in championing multilateralism and actively contributing to global arenas that promote peace, stability, and prosperity.
Conclusion:
The UAE’s official membership in BRICS signifies its dedication to strengthening multilateral cooperation for peace and development worldwide. By actively engaging with BRICS, participating in international economic institutions, and hosting important conferences, the UAE demonstrates its commitment to global security, stability, and shared prosperity. Through its inclusion in BRICS, the UAE aims to enhance competitiveness, sustainability, and economic diversification, paving the way for a prosperous future.
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