Adding UAE to BRICS will ensure full de dollarization of World trade
UAE is described to have strong economy and “very good GDP in general and GDP per capita,” offering BRICS many opportunities, especially regarding energy.
Granting the United Arab Emirates the status of a member of BRICS group (Brazil, Russia, India, China, South Africa) will allow the association to push Western countries towards accepting changes in the system of international relations, especially with regard to trade and de-dollarization, said Mohamed Badine El Yattioui, Doctor of Political Science, Assistant Professor of International Affairs and Strategy in the College of Security and Global Studies at the American University in the UAE.
“The role of the BRICS has been increasing during the last years and the last decade,” said El Yattioui. He believes that the countries of the community “are trying to establish a new paradigm in international relations” and bring about a new world order.
“For the United Arab Emirates, it’s important to become part of the BRICS group,” the scholar said.
He added that the admission of the UAE and other BRICS candidates will help the group “push the western countries towards accepting some modifications of the new world order, especially those regarding international trade, international political economy in general, currency and leaving the dollar.”
“Saudi Arabia and the UAE have strong economies and very good GDP in general and GDP per capita and they are offering BRICS many opportunities, especially regarding energy,” Al Yattioui noted. “The UAE are very good candidates for BRICS and it is in the interest of BRICS to have them inside the group,” the scholar said.
On June 1, the BRICS foreign ministers at a meeting in Cape Town in south-western South Africa considered the concept of the group’s expansion, but decided to send the document for revision.
The next day, a Friends of BRICS meeting was held. It was attended by the foreign ministers of the BRICS member-countries and 12 other states of the Global South that expressed their wish to join the community.
The South Africa-chaired BRICS summit will be held in Johannesburg on August 22-24. According to the country’s Minister of International Relations and Cooperation, Naledi Pandor, the BRICS leaders will discuss the expansion of the organization. By now 23 countries have submitted formal admission applications.
