Page 259 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 2:42 PM Dr Thani Al Zeyoudi joins BRICS trade ministers to call for greater cooperation
It is the first time the UAE has participated in a BRICS Trade Ministers Meeting

since its joining the group in August 2023.

Dr. Al Zeyoudi 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.

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

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