Now Reading: UAE pushes for stronger BRICS financial cooperation at India meeting
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UAE pushes for stronger BRICS financial cooperation at India meeting
UAE pushes for stronger BRICS financial cooperation at India meeting
The United Arab Emirates has called for greater financial cooperation among BRICS nations, including reforms to global economic governance, as the bloc's finance meeting began in India on August 12. UAE Minister…
The United Arab Emirates has called for greater financial cooperation among BRICS nations, including reforms to global economic governance, as the bloc's finance meeting began in India on August 12. UAE Minister of State for Financial Affairs Mohamed Al Hussaini, leading the delegation, said BRICS provides a platform for advancing multilateral action on global economic challenges.
The two-day meeting under India's presidency covers infrastructure financing, public-private partnerships, tax and customs cooperation, capital markets, and reforms to international financial institutions. Al Hussaini urged continued work on reforms that improve productivity, attract private capital, and deepen domestic capital markets, while stressing the need for fairer representation of emerging economies in global financial governance.
On the sidelines, the UAE is participating in a seminar on the role of the New Development Bank in mobilising private capital across BRICS countries, and a workshop on resilient growth in emerging economies focusing on risk financing and infrastructure resilience.
Indian Opinion Analysis
The meeting is the first BRICS finance track gathering since the bloc expanded to include new members including the UAE, Iran, Egypt, and Ethiopia. The push for governance reform targets institutions like the IMF and World Bank, where emerging economies have long demanded voting power proportionate to their economic weight. The outcome of these talks will feed into the BRICS summit later this year. India, as chair, will be keen to show progress on its agenda of strengthening multilateralism. The next key date is the summit where leaders will endorse any finance track decisions.
Source: gulfnews.com
This story was synthesised by AI from the source linked above.
