Page 225 - MOE ENGLISH PR REPORT - JULY 2024

China, South Africa, Egypt, Ethiopia, Iran and the UAE, also agreed to establish an informal
consultative framework to advance a global dialogue on the WTO and WTO-related issues.

The ministers affirmed the importance of the integration of digital technologies in global trade
and the promotion of smart solutions like e-certification and electronic bills of lading.The
communique also underscored how investment and collaboration are key toward the
enhancement of intra- BRICS global value chains (GVCs), in addition to advancing the potential
of BRICS members’ special economic zones, both of which would help to increase
competitiveness in new industries, for example in renewable energy.

Dr Al Zeyoudi welcomed the Joint Communique as an important step in affirming the impact of
trade on economic development and growth.

“The UAE continues to be a strong advocate for open, rules-based trade, and we will always
seek to work with nations and networks that enable us to facilitate the movement of goods,
services and capital around the world. The BRICS is an exciting and agile community of like-
minded countries, and the 14th Trade Ministers Meeting underlined a collective vision for
growth, one based on collaboration and innovation. By building on long-established trade
frameworks, we believe we can open up new means of exchange that meet the needs of
today’s economy. The declarations on e-commerce, which will increase trade between member
nations and enhance consumer confidence, are a clear example of our unity of purpose that can
set a global example,” said he at the BRICS group.

Dr Al Zeyoudi emphasised that the UAE, as a BRICS member, is committed to enhancing
economic cooperation and partnerships with fellow member states. This effort aims to
strengthen the UAE’s position as a major global hub and multilateral partner, while also
diversifying strategic alliances. Joining BRICS aligns with the UAE’s priority of fostering
economic prosperity and maintaining balanced strategic and economic relations, including
collaboration with international organisations, in our ever-evolving global landscape.In addition
to the Joint Communique, the 14th Trade Ministers Meeting adopted a BRICS Cooperation
Framework on Special Economic Zones, an agreement aimed at harnessing the potential of
Special Economic Zones (SEZs) in BRICS countries and utilising them as established
mechanisms to enhance trade and industrial cooperation.

The meeting has proposed the establishment of a forum for cooperation on SEZs in member
countries to enhance cooperation. The Ministers Meeting in Moscow is one of the key events in
the build-up to the BRICS Summit, which takes place in Kazan, Russia in October 2024.

On Thursday, a delegation from the National Emergency Crisis and Disaster Management
Authority (NCEMA), led by Deputy Chairman Obaid Rashid Al Hassan Al Shamsi, participated in
the BRICS Group heads of emergency agencies meeting in Kazan, Russia.

The meeting addressed common strategies and challenges in emergency and crisis
management, as well as shared experiences and expertise in the field.

Al Shamsi delivered NCEMA’s speech, emphasising that the UAE’s participation in the BRICS
Group reflects its strong commitment to multilateral cooperation and achieving international
priorities.

https://www.gulftoday.ae/business/2024/07/26/uae-joins-brics-trade-ministers-to-call-for-greater-
cooperation