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The UAE intends to strengthen economic cooperation with BRICS

September, 02 2024
watermark Economic news

The United Arab Emirates, which recently became full members of the BRICS, intends to increase economic cooperation with other countries of the association.


According to the Deputy Minister of Finance of the UAE, Younis Haji Al-Khoury, the Emirati government is committed to expanding trade, increasing financial stability and supporting sustainable development initiatives within the framework of the BRICS.


The UAE is particularly interested in cooperation in the tax and customs fields. In particular, the country's authorities expect to reduce trade barriers. They also strive to improve the exchange of information between BRICS members and create an infrastructure for digital tax administration.


Recall that in August 2023, the BRICS welcomed six new members, including the UAE.  On January 1, 2024, the UAE, along with Egypt, Iran, Saudi Arabia and Ethiopia, officially joined the BRICS under the chairmanship of Russia.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.