The Special Meeting of the Board of Governors of the New Development Bank (NDB) and the second meeting of the BRICS Finance Ministers and Central Bank Governors took place on Thursday in Mumbai, India, with participation from the United Arab Emirates through the Ministry of Finance. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, led the Ministry of Finance team, which also included representatives from the UAE Central Bank and a number of Ministry officials and experts.
The UAE’s involvement demonstrates its dedication to advancing international financial and economic cooperation as well as encouraging discussion of problems that are important to emerging and developing nations. In light of the difficulties facing emerging and developing economies as well as the increasing significance of greater economic coordination and cooperation among BRICS nations, a number of common priorities for finance ministries and central banks throughout the group were discussed at the second meeting of BRICS Finance Ministers and Central Bank Governors.
The BRICS Finance Ministers and Central Bank Governors adopted a unified statement during the meeting, which also marked the establishment of the BRICS-NDB Knowledge Portal. “BRICS is an essential 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,” stated Mohamed Bin Hadi Al Hussaini.
“We emphasise how crucial it is to keep up this collaboration in order to promote a more equitable and inclusive global financial and economic system.” The Knowledge Portal, he continued, highlights the UAE’s willingness to contribute best practices, case studies, and national knowledge to the platform and represents a significant step in unifying the group’s institutional activities and documenting its efforts and technical results.
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