Abdullah Al Muwaiji: The Uae's Joining Brics Reflects The Uae's Economic Openness Policy

Date: 29/08/2023


Abdullah Al Muwaiji: The Uae's Joining Brics Reflects The Uae's Economic Openness Policy

The Chairman of Ajman Chamber of Commerce and Industry (ACCI), H.E. Eng. Abdullah Al Muwaiji affirmed that the UAE's joining the BRICS reflects the UAE's balanced openness policy and demonstrates the strong influence of the UAE in shaping the present and future of the global economy and supporting pluralism to achieve sustainable development, especially as it is a logistical center for the development of global trade. Al Muwaiji pointed out that joining this global economic conglomerate is the culmination of the UAE's efforts to support the growth of the global economy and a solid extension of the comprehensive economic partnership agreements adopted by the UAE during the previous period. Moreover, he praised the efforts of the UAE government in building a diversified and sustainable economy that achieves the goals of the UAE, supports the happiness and well-being of its citizens, and enhances its regional and global role and leadership. He stated that joining BRICS is of particular significance, as it includes more than 42% of the world's population and represents more than 23% of the world's GDP, according to the World Bank database. This will have many results, including increasing the volume of trade flows and facilitating the movement of goods and services between member states, improving efficiency and production capabilities, and enhancing opportunities for technological progress, innovation, research, and development through the exchange of knowledge, technologies, data, experiences, and best practices, as well as encouraging increased direct investments among member states as well as increasing and diversifying job opportunities for Emirati human resources. H.E. Abdullah Al Muwaiji explained that the UAE's joining BRICS will resonate and have a remarkable impact on the private sector, especially since the next stage will witness a qualitative increase in the volume of intra-trade between the UAE and the member states.