Page 230 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 2:40 PM HE Dr Thani Al Zeyoudi joins BRICS trade ministers to call for greater cooperation

His Excellency Dr. Thani signed a Joint Communique with the participating ministers to reaffirm the
commitment to comprehensive cooperation among member countries in several key areas of common
interest, including strengthening their cooperation in the multilateral trading system, supporting Joint
value chains; facilitating agricultural trade; promoting special economic zones as engines of

cooperation, fostering e-commerce while protecting consumer rights; supporting MSMEs through
technology and export cooperation. The communique underscored BRICS’ commitment to
multilateralism and collaboration in addressing global trade challenges.

The ministers, who represented Brazil, Russia, India, 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.

HE Dr. Thani 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.

H.E. Dr. Al Zeyoudi emphasized 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 organizations, 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 utilizing them as established mechanisms to enhance

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