UAE to support countries of Global South as part of its BRICS membership

According to Younis Haji Al Khoori, the UAE “strives to ensure that international policies effectively consider the interests and perspectives of developing nations”

The United Arab Emirates intends to support the economic growth of the Global South in the framework of interaction with BRICS countries, Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance said in an interview with WAM news agency.

“The UAE looks to bridge cooperation to achieve common goals, including financial stability, growth, sustainable development, and strengthening trade and financial cooperation to support economic growth in the Global South,” the official said.

According to him, the UAE “strives to ensure that international policies effectively consider the interests and perspectives of developing nations.”

The official believes that the UAE accession to BRICS will “strengthen efforts to build balanced economic relations, advance sustainable national economic growth, and solidify its position in emerging and developing markets” in particular through implementation of infrastructure projects in the states of the Global South.

“Committed to inclusivity and equity in the global economic landscape, the UAE strives to ensure that international policies effectively consider the interests and perspectives of developing nations. It will advance the development agenda of the New Development Bank concerning emerging markets and developing countries, where the bank is a key tool for promoting BRICS development priorities,” he added.

In August 2023, six new members were invited to join the BRICS group, including Argentina, but in late December it refused to join. Five new members – Egypt, Iran, the UAE, Saudi Arabia and Ethiopia – began working in BRICS on January 1 under the chairmanship of Russia.