Jaipur: Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, represented the UAE at the 2026 BRICS Trade Ministers Meeting (TMM), hosted at Maharani Mahal, Hotel Sawai Man Mahal, in Jaipur, India. The meeting, organized under India's BRICS Chairmanship, gathered trade ministers and senior officials from the BRICS community to deliberate on the multilateral trading system, inclusive trade, empowerment of MSMEs, and transformation of global value chains amidst digital advancements.
According to Emirates News Agency, Al Zeyoudi was accompanied by Abdulla Al Nuaimi, UAE Ambassador to India, and engaged in bilateral discussions with key counterparts. These included Piyush Goyal, India's Union Minister of Commerce and Industry; Li Chenggang, China's International Trade Representative; Dr Mohamed Farid Saleh, Egypt's Minister of Investment and Foreign Trade; Dr Budi Santoso, Indonesia's Minister of Trade; Parks Franklyn Mpho Tau, South Africa's Minister of Trade, Industry and Competition; and Ilichev Vladimir Evgenievich, Russia's Deputy Minister of Economic Development. The discussions emphasized enhancing bilateral trade, investment ties, and private-sector collaboration.
At the TMM, Al Zeyoudi expressed the UAE's concerns over Iran's actions affecting commercial shipping and the closure of the Strait of Hormuz, urging for its reopening and adherence to international law protecting navigation and shipping. The broader dialogue explored BRICS economic cooperation priorities, trade resilience, and market connectivity. However, consensus on a joint declaration was not reached.
Al Zeyoudi remarked, "In these uncertain times for global trade, cooperation among emerging markets and developing economies is crucial. The UAE values BRICS as a platform for economic cooperation and a stable trading environment. Our participation in Jaipur highlighted the strength of the UAE's economic ties with BRICS members, and we aim to convert these discussions into tangible benefits."
Trade between the UAE and BRICS nations has been robust, with non-oil foreign trade exceeding US$312 billion in 2025, a 28.5% rise from 2024. BRICS nations accounted for significant portions of the UAE's trade metrics, including 31% of total non-oil foreign trade.
The meeting with Goyal allowed for a review of progress under the India-UAE CEPA, in effect since May 2022, and explored expanding cooperation in services trade, digital commerce, and logistics. India remains a significant trading partner, with bilateral non-oil trade reaching US$76.2 billion in 2025. Both nations committed to advancing trade facilitation and collaboration in growth sectors.
The BRICS community has expanded over recent years, now including ten members: Brazil, Russia, India, China, South Africa, Indonesia, Ethiopia, Egypt, Iran, and the UAE. These countries represent a substantial portion of the global population and GDP.
The UAE's BRICS membership underscores its dedication to strengthening economic ties with developing world partners and promoting beneficial trade. Its participation aligns with a broader trade agenda, the CEPA programme, aiming to boost non-oil foreign trade to US$1.1 trillion by 2031, with numerous agreements already in place.
Source: Emirates News Agency