The United Arab Emirates (UAE) is a recent and newest member of the BRICS alliance, joining on January 1, 2024. The UAE is a country known for its modern infrastructure, diverse economy, and strategic location in the Middle East. The UAE’s economy is driven by sectors such as oil and gas, tourism, real estate, and finance, making it one of the most dynamic economies in the region.

The UAE’s participation in the BRICS alliance is aimed at promoting economic cooperation and sustainable development among member countries. The country has been actively involved in various BRICS activities and events, including the BRICS Business Council and the BRICS Interbank Cooperation Mechanism, which seek to enhance trade and investment among member countries and facilitate financial cooperation and investment projects.

One of the key initiatives that the UAE has been involved in is the Belt and Road Initiative (BRI), a massive infrastructure project aimed at connecting Asia with Europe and Africa. The BRI aims to enhance trade and investment cooperation among countries along the route, promoting economic growth and development.

The UAE’s participation in the BRICS alliance reflects its commitment to fostering economic growth and development, not only within its borders but also across the region. The country’s strategic location and advanced infrastructure make it a valuable member of the BRICS alliance, contributing to the diversity and richness of the group.

The UAE’s economy has shown resilience in the face of challenges such as fluctuating oil prices and global economic uncertainties. The government has implemented various reforms to diversify the economy and attract foreign investment, leading to increased economic growth and development. The UAE’s participation in the BRICS alliance provides it with opportunities to collaborate with other member countries and explore new avenues for economic growth and development.