UAE Strengthens Global Ties at BRICS Finance Meeting in Moscow

UAE, 23 December, 2024 : The UAE, represented by the Ministry of Finance and the Central Bank, joined the second BRICS Finance Ministers and Central Bank Governors meeting in Moscow. The delegation included HE Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and other senior officials.

HE Al Hussaini highlighted the UAE’s commitment to strengthening South-South cooperation, advocating for innovative payment systems and local currency financing to stabilize reserves and mitigate currency risks. He commended the BRICS Presidency for advancing key outcomes.

On the sidelines, HE Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, led a bilateral dialogue with Russia’s Deputy Finance Minister to discuss public finance collaboration.

The UAE, which officially joined BRICS in January 2024, is focused on fostering economic partnerships and enhancing its role as a global financial hub. The country’s participation aligns with its strategy to support emerging economies and drive sustainable development.

The UAE has been a member of the BRICS New Development Bank since 2021, reinforcing its commitment to infrastructure and sustainability projects in developing nations.