UAE pushes for stronger BRICS financial cooperation at India meeting

Dubai: The UAE called for stronger financial cooperation among BRICS countries and wider representation for emerging economies in global financial institutions during the first BRICS Finance Ministers and Central Bank Governors Meeting under India’s 2026 presidency.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, is representing the UAE at the two-day meeting in Jaipur, which brings together finance ministers, central bank governors and heads of regional financial and development organisations.

The discussions cover the global economic outlook, infrastructure financing, public-private partnerships, tax and customs cooperation, capital markets and reforms to global economic governance.

UAE seeks stronger voice for emerging economies

Al Hussaini called for continued work on reforms that improve productivity, attract private capital and deepen domestic capital markets.

He also stressed the need for increased development financing and changes to international economic governance that would give emerging and developing economies fairer representation in international financial institutions.

“BRICS provides an important platform for advancing multilateral action and developing shared responses to global economic and financial challenges,” Al Hussaini said.

Infrastructure and private capital in focus

The UAE is presenting national initiatives covering public-private partnerships, sustainable infrastructure financing, artificial intelligence, digital transformation, climate finance and private capital mobilisation.

Domestic financial market development is also part of the UAE’s contribution to the BRICS technical discussions.

The meeting is examining ways to strengthen cooperation among member countries in responding to global economic challenges, with particular attention to the resilience of emerging and developing economies.

New Development Bank talks

The UAE is also participating in high-level events on the sidelines of the meeting, including a seminar on the role of the New Development Bank in mobilising private capital across BRICS countries.

A separate workshop on resilient growth in emerging economies is looking at risk financing and infrastructure resilience, with the aim of improving how economies respond to rising economic and financial risks.

The BRICS finance meeting runs on August 12 and 13 under India’s presidency.