Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of the United Arab Emirates, participated in the 2026 BRICS Trade Ministers’ Meeting in Jaipur. The meeting was hosted by India under its BRICS Chairmanship and convened at Maharani Mahal, Hotel Sawai Man Mahal.

It brought together trade ministers and senior officials from across the BRICS community to deliberate on safeguarding the multilateral trading system, fostering inclusive trade, empowering MSMEs, and reshaping global value chains amid accelerating digital transformation.

Al Zeyoudi was accompanied by Abdulla Al Nuaimi, UAE Ambassador to India. During his visit, he held a series of bilateral discussions with key counterparts. These included Piyush Goyal, Union Minister of Commerce and Industry of India; Li Chenggang, China International Trade Representative and Vice Minister of Commerce; Mohamed Farid Saleh, Minister of Investment and Foreign Trade of Egypt; Budi Santoso, Minister of Trade 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 talks focused on strengthening bilateral trade and investment ties, expanding cooperation in priority sectors, and deepening private‑sector engagement.

At the Trade Ministers’ Meeting, Al Zeyoudi raised the UAE’s grave concerns over Iran’s attacks on commercial shipping and the continued closure of the Strait of Hormuz. He reiterated the UAE’s call for its immediate and unconditional reopening and stressed the importance of protecting freedom of navigation and international shipping in accordance with international law. His intervention highlighted the UAE’s emphasis on maritime security as a cornerstone of global trade stability.

The broader discussions at the meeting covered priorities for BRICS economic cooperation, including trade resilience, market connectivity, and emerging challenges affecting global commerce.

However, trade ministers were unable to reach consensus on a joint declaration at the conclusion of the meeting, reflecting the complexity of aligning diverse national interests within the expanded BRICS framework.

Al Zeyoudi stated that at a time of heightened uncertainty in global trade, cooperation between emerging markets and developing economies is more important than ever. He emphasised that the UAE views BRICS as a vital platform for strengthening economic cooperation and supporting an open and predictable trading environment.

He noted that the UAE’s engagement in Jaipur reinforced the strength of its economic relationships with fellow BRICS members, and expressed commitment 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 $312 billion, representing a 28.5% increase compared to $243 billion in 2024. BRICS nations accounted for approximately 31% of the UAE’s total non‑oil foreign trade in 2025. They were also the source of 34% of the UAE’s imports, the destination for 23% of its non‑oil exports, and accounted for 28% of its re‑exports during the same period.

The bilateral meeting with Piyush Goyal provided an opportunity to review progress under the India‑UAE Comprehensive Economic Partnership Agreement, which entered into force in May 2022. Discussions explored 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% 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 has expanded significantly in recent years. From its original five members, it grew to nine in 2024, with Indonesia joining as its tenth member in 2025. The grouping now comprises Brazil, Russia, India, China, South Africa, Indonesia, Ethiopia, Egypt, Iran, and the UAE.

Collectively, these nations represent approximately 40% of the world’s population and around 25% 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 Trade Ministers’ Meeting complements its broader trade agenda, anchored by the Comprehensive Economic Partnership Agreement program. This initiative aims to increase non‑oil foreign trade to $$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 already in force. These include agreements with fellow BRICS members India and Indonesia, underscoring the UAE’s determination to strengthen its role in global commerce.

ANI