Turning economic cooperation into shared prosperity, Pg6

Key Highlights:

• The United Arab Emirates (UAE) became a full member of BRICS in January 2024, focusing on economic cooperation for tangible opportunities.
• The New Development Bank (NDB), established by BRICS states, has approved over $40 billion in financing for infrastructure and sustainable development.
• The UAE-India Comprehensive Economic Partnership Agreement (CEPA) boosted non-oil bilateral trade by 17% in 2025, exceeding $76 billion.
• India will hold the BRICS Chairship in 2026, with a focus on resilience, innovation, cooperation, and sustainability.
• The UAE aims to increase bilateral trade with India to $200 billion by 2032.
• Non-oil sectors contributed almost 79% to the UAE's GDP in 2025, supported by its strong connectivity infrastructure.
• The UAE possesses over $2.9 trillion in sovereign wealth assets and has concluded 38 Comprehensive Economic Partnership Agreements.

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Detailed Insights:

• The UAE's engagement with BRICS is part of its broader commitment to multilateralism and diversified international partnerships.
• The diversity within BRICS members, ranging from major producers to capital sources, creates opportunities for economic complementarity.
• BRICS aims to strengthen the multilateral trading system, facilitate trade and investment, and promote sustainable development.
• The UAE's active engagement with the New Development Bank (NDB) predates its full BRICS membership, reflecting its commitment to productive investment.
• The UAE-India relationship extends beyond trade, encompassing investment, innovation, education, and cultural ties.
• Strong economic partnerships are fostered through lasting connections across societies, building trust and resilience.
• The UAE's economic model is centered on connectivity, leveraging its world-class infrastructure, financial institutions, and logistics networks.
• Its ports, airports, and logistics networks connect markets across Asia, Africa, and Europe, facilitating global trade.
• The UAE's financial centers link international capital with regional opportunities, while its institutions foster talent and knowledge exchange.
• India is set to host the BRICS Summit from September 12-13, 2026.

Key Concepts Involved:

• BRICS: An intergovernmental organization comprising Brazil, Russia, India, China, South Africa, and new members like the UAE, focused on economic cooperation.
• Multilateralism: The principle of cooperation among several countries in pursuit of common goals and interests.
• Comprehensive Economic Partnership Agreement (CEPA): A free trade agreement that covers trade in goods, services, investment, and other areas of economic cooperation.
• New Development Bank (NDB): A multilateral development bank established by the BRICS states to mobilize resources for infrastructure and sustainable development projects.
• Global South: A term used to refer to countries in Africa, Asia, Oceania, and Latin America, often characterized by developing economies.