Rio de janeiro: The United Arab Emirates, represented by the Ministry of Finance and the Central Bank of the UAE, participated in the BRICS Finance Ministers and Central Bank Governors Meeting held in Rio de Janeiro, Brazil, under the 2025 presidency of Brazil. The UAE delegation was led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and included Ebrahim Obaid Al Zaabi, Ali Abdullah Sharafi, Thuraiya Hamid Alhashmi, and Hamad Issa Al Zaabi.
According to Emirates News Agency, the meeting agenda featured three main sessions focusing on finance ministries, central banks, and a joint session that explored the global economic outlook and the role of BRICS in enhancing international economic governance. Additional topics included climate finance and coordination of economic policies.
Mohamed bin Hadi Al Hussaini emphasized during his intervention that the UAE’s participation in BRICS stems from its commitment to strengthening international dialogue on the future of the global financial system and developing multilateral cooperation frameworks to address urgent development challenges. He stated that constructive partnerships among emerging and developing economies, through platforms such as BRICS, offer an opportunity to enhance global economic governance and support long-term financial stability.
He further stressed that the UAE’s contribution to drafting the joint communiqu© reflects its active commitment to collaborative efforts within BRICS, aimed at promoting shared interests and aligning with member countries’ aspirations for a more balanced and cooperative global economy.
The UAE officially joined BRICS in January 2024, following the ratification of its membership request by the group’s five founding countries: Brazil, Russia, India, China, and South Africa. As a BRICS member, the UAE aims to deepen economic cooperation and partnerships with fellow member states, reinforcing its role as a global economic hub. The UAE also joined the BRICS New Development Bank in October 2021, which mobilizes resources for infrastructure and sustainable development projects in BRICS nations and other emerging economies.