The BRICS coalition is reshaping global economic narratives by amplifying the priorities of emerging markets, according to Saeed Mubarak Al Hajeri, the UAE's assistant minister for economic and trade affairs. In an exclusive interview with CGTN, Al Hajeri emphasized that the bloc's expansion signals a "new era of multipolar cooperation" where developing economies can collectively address systemic imbalances.
As one of five new members joining BRICS in 2024, the UAE brings unique insights from its position as a Gulf trade hub. "The Global South isn't just catching up – it's defining tomorrow's growth models," Al Hajeri stated, noting that BRICS now represents 37% of global GDP at purchasing power parity.
Analysts suggest the bloc's growing influence could recalibrate international financial architecture, particularly through initiatives like the New Development Bank. With combined foreign reserves exceeding $4 trillion, BRICS members are increasingly positioned to support infrastructure projects and local currency settlements across developing regions.
The UAE's proactive engagement reflects broader Middle Eastern interest in South-South partnerships. Recent data shows intra-BRICS trade grew 56% over the past decade, outpacing global averages. For investors, this signals emerging opportunities in sustainable energy, digital infrastructure, and cross-border payment systems.
As geopolitical alignments shift, Al Hajeri's comments underscore BRICS' evolving role as a platform for economic diplomacy – one where the priorities of Jakarta, Johannesburg, and Riyadh carry equal weight alongside traditional power centers.
