UNITED Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan said his country anticipates working with Brazil, Russia, India, China, and South Africa (BRICS) for the benefit of all amid expectations the group will lead the path for outstanding contributions to building a brand new international order.
In a recent post, Sheikh Mohammed relayed his appreciation for the inclusion of the UAE as a member of BRICS and said he is looking forward to a continued commitment to cooperation for the prosperity, dignity, and benefit of all nations and people around the world.
The six countries invited include the United Arab Emirates, Argentina, Egypt, Iran, Ethiopia, and Saudi Arabia.
The new membership will be effective from January 1, 2024.
The expansion meant six of the world’s nine largest oil producers are now part of BRICS.
It also offers the potential to open the doors for numerous interested countries to align with a coalition committed to championing the interests of the ‘global south’ and the shifting of power from the ‘global north’.
It could also pave the way for the UAE to solidify its position as a global trade and logistics hub by aligning its interests with the BRICS economies.
The inclusion of Saudi Arabia as a member of the bloc only added to the possibility of de-dollarization as a potential challenge to the dominance of the US dollar in the global trade.
