Al Zeyoudi voices UAE's grave concern over Iran's attacks on shipping

Jaipur: Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, participated in the 2026 BRICS Trade Ministers Meeting (TMM), held at Maharani Mahal, Hotel Sawai Man Mahal, in Jaipur, India.

Hosted by India under its BRICS Chairmanship, the meeting brought together trade ministers and senior officials from across the BRICS community to discuss safeguarding the multilateral trading system, fostering inclusive trade, empowering MSMEs, and reshaping global value chains amid accelerating digital transformation.

Al Zeyoudi was joined by Abdulla Al Nuaimi, UAE Ambassador to India.

While in Jaipur, Al Zeyoudi held a series of bilateral discussions with key counterparts, including Piyush Goyal, Union Minister of Commerce and Industry of India; Li Chenggang, China International Trade Representative and Vice Minister of Commerce; Dr Mohamed Farid Saleh, Minister of Investment and Foreign Trade of Egypt; Dr Budi Santoso, Minister of Trade of the Republic of Indonesia; Parks Franklyn Mpho Tau, Minister of Trade, Industry and Competition of South Africa; and Ilichev Vladimir Evgenievich, Deputy Minister of Economic Development of Russia.

The discussions focused on strengthening bilateral trade and investment ties, expanding cooperation in priority sectors, and deepening private-sector engagement.

At the TMM, Al Zeyoudi underscored the UAE's grave concerns over Iran’s attacks on commercial shipping and the continued closure of the Strait of Hormuz, and reiterated the UAE’s call for its immediate and unconditional reopening and the protection of freedom of navigation and international shipping, in accordance with international law.

The broader discussions covered key priorities for BRICS economic cooperation, including trade resilience, market connectivity and emerging challenges affecting global commerce. Trade ministers were unable to reach consensus on a joint declaration at the conclusion of the meeting.

Al Zeyoudi said, "At a time of heightened uncertainty in global trade, cooperation between emerging markets and developing economies is more important than ever. The UAE views BRICS as an important platform for strengthening economic cooperation and supporting an open and predictable trading environment. Our engagement in Jaipur reinforced the strength of the UAE’s economic relationships with fellow BRICS members, and we are committed to translating these discussions into tangible outcomes for businesses and communities."

Trade between the UAE and BRICS nations continues to record strong growth. In 2025, bilateral non-oil foreign trade between the UAE and BRICS member nations surpassed US$312 billion, a 28.5 per cent increase compared to US$243 billion in 2024.

BRICS nations accounted for approximately 31 per cent of the UAE’s total non-oil foreign trade in 2025. They were also the source of 34 per cent of the UAE’s imports, the destination for 23 per cent of its non-oil exports, and accounted for 28 per cent of its re-exports during the same period.

The bilateral meeting with Goyal provided an opportunity to review progress under the India-UAE CEPA, which entered into force in May 2022, and to discuss avenues for expanding cooperation in services trade, digital commerce, logistics, and food security.

India remains one of the UAE’s largest trading partners globally, with bilateral non-oil trade reaching US$76.2 billion in 2025, a 17.3 per cent increase on the previous year. 

Both sides reaffirmed their commitment to advancing trade facilitation and strengthening private-sector collaboration in high-growth sectors.

The BRICS community expanded from five to nine member nations in 2024, with Indonesia joining as its tenth member in 2025. 

It comprises Brazil, Russia, India, China, South Africa, Indonesia, Ethiopia, Egypt, Iran, and the UAE. 

Together, these nations represent approximately 40 per cent of the world’s population and around 25 per cent of global GDP.

The UAE’s membership reflects its commitment to expanding economic ties with partners across the developing world and advancing open, mutually beneficial trade.

The UAE’s participation in the BRICS TMM complements its broader trade agenda, anchored by the Comprehensive Economic Partnership Agreement (CEPA) programme, which aims to increase non-oil foreign trade to US$1.1 trillion by 2031. 

Since its launch in September 2021, 38 agreements have been concluded with economies across Asia, Africa, Europe, and the Americas, with 18 in force, including agreements with fellow BRICS members India and Indonesia.