UAE backs deeper BRICS financial cooperation at key India meetings

UAE joins BRICS finance talks and backs the NDB’s 2027 to 2031 strategy

Last updated: September 10, 2026 | 13:54

Nivetha Dayanand, Assistant Business Editor

2 MIN READ

UAE backs deeper BRICS financial cooperation at key India meetings

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Dubai: The UAE has backed deeper financial and economic coordination within BRICS while supporting the New Development Bank’s next five-year strategy during meetings in India.

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The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, took part in the second meeting of BRICS Finance Ministers and Central Bank Governors and the Special Meeting of the Board of Governors of the New Development Bank in Mumbai.

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The meetings focused on priorities facing emerging and developing economies, stronger coordination among BRICS members and the future direction of the New Development Bank.

BRICS finance ministers adopt joint statement

The BRICS finance meeting saw the adoption of a joint statement by finance ministers and central bank governors, while the BRICS-NDB Knowledge Portal was also launched to support the exchange of expertise, case studies and best practices.

BRICS is a vital platform for strengthening international economic cooperation and coordinating positions on financial and economic issues of common interest, particularly in light of the challenges facing emerging and developing economies

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs

Al Hussaini said the Knowledge Portal would help consolidate the group’s institutional work and capture its initiatives and technical output, while the UAE is prepared to contribute national expertise, case studies and best practices.

UAE backs work on growth and development

The UAE also welcomed the formation of the BRICS Task Force on Growth and Development in 2026 and called for its work to continue in the coming years.

Priority areas highlighted by the UAE include digital transformation and innovation, reforms that support growth, labour mobility and the development of future skills and talent.

The UAE also called for stronger coordination between successive BRICS presidencies to maintain continuity across initiatives and support longer-term outcomes.

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NDB strategy for 2027 to 2031 discussed

The UAE delegation also took part in discussions on the New Development Bank General Strategy for 2027 to 2031.

The strategy will shape the bank’s direction and priorities over the next five years, with discussions covering technology and innovation, financing for digital transformation, climate action financing and women’s representation.

“The UAE supports the New Development Bank’s strategic direction and efforts to strengthen its role as a leading development institution for the Global South,” Al Hussaini said.

The Ministry of Finance also welcomed the progress made on the strategy and its focus on development projects linked to technology and digital transformation.

The UAE joined the New Development Bank in October 2021 and became a BRICS member in January 2024.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series. Her reporting has taken her from breaking spot news to long-form features and high-profile interviews. Nivetha has interviewed Prince Khaled bin Alwaleed Al Saud, Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu, IMF’s Jihad Azour, and a long list of CEOs, regulators, and founders who are reshaping the region’s economy. An Erasmus Mundus journalism alum, Nivetha has shared classrooms and newsrooms with journalists from more than 40 countries, which probably explains her weakness for data, context, and a good follow-up question. When she is away from her keyboard (AFK), you are most likely to find her at the gym with an Eminem playlist, bingeing One Piece, or exploring games on her PS5.