The United Arab Emirates (UAE), represented by the Ministry of Finance and the Central Bank of the UAE, took part in the BRICS Finance Ministers and Central Bank Governors Meeting held in Rio de Janeiro, Brazil, under Brazil’s presidency in 2025.
The UAE delegation was headed by Mohamed bin Hadi Al Hussaini, minister of State for Financial Affairs. It also included Ebrahim Obaid Al Zaabi, assistant governor for Monetary Policy and Financial Stability at the Central Bank of the UAE; Ali Abdullah Sharafi, acting assistant undersecretary for International Financial Relations at the Ministry of Finance; Thuraiya Hamid Alhashmi, director of International Financial Relations and Organizations at the Ministry of Finance; and Hamad Issa Al Zaabi, director of the Office of the minister of State for Financial Affairs.
The meeting agenda featured three key sessions: one dedicated to finance ministries, another focused on central banks, and a joint session that examined the global economic outlook and the role of BRICS in enhancing international economic governance. Other topics included climate finance and the coordination of economic policies.
During his remarks, Mohamed bin Hadi Al Hussaini emphasized that the UAE’s involvement in BRICS arises from its commitment to strengthening international dialogue regarding the future of the global financial system and developing multilateral cooperation frameworks to tackle urgent development challenges. “We are committed to strengthening dialogue on the future of the global financial system and developing multilateral cooperation frameworks to address development challenges.”
Deepening economic cooperation within BRICS
Al Hussaini further stated: “We believe that constructive partnerships among emerging and developing economies, through platforms such as BRICS, offer an important opportunity to enhance global economic governance, expand access to innovative financing, and support long-term financial stability. We also stress the importance of reinforcing financial and monetary coordination among member states to ensure more inclusive and sustainable growth.”
He highlighted that the UAE’s contribution to drafting the joint communiqué 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: the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China, and the Republic of South Africa.
As a member of BRICS, the UAE seeks to deepen economic cooperation and partnerships with fellow member states, reinforcing its position as a global economic hub and multilateral partner. The UAE also became a member of the BRICS New Development Bank in October 2021. Established in 2015, the Bank mobilizes resources for infrastructure and sustainable development projects in BRICS nations and other emerging and developing economies.
