Dr. Thani Bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, attended the 2026 BRICS Trade Ministers Meeting (TMM) held at the Maharani Mahal, Hotel Sawai Man Mahal, in Jaipur, India. Accompanied by the UAE Ambassador to India, Abdulla Al Nuaimi, the minister joined officials from across the BRICS bloc to deliberate on the future of the multilateral trading system, the empowerment of MSMEs, and strategies to foster inclusive trade amid rapid digital transformation. The event was hosted by India under its current BRICS chairmanship.
During his stay in Jaipur, Al Zeyoudi conducted a series of bilateral meetings with several high-level counterparts. These included India’s Union Minister of Commerce and Industry, Piyush Goyal; China’s International Trade Representative and Vice Minister of Commerce, Li Chenggang; Egypt’s Minister of Investment and Foreign Trade, Dr. Mohamed Farid Saleh; Indonesia’s Minister of Trade, Dr. Budi Santoso; South Africa’s Minister of Trade, Industry and Competition, Parks Franklyn Mpho Tau; and the Deputy Minister of Economic Development of Russia, Ilichev Vladimir Evgenievich. These discussions centered on deepening private-sector engagement and expanding cooperation in key economic sectors.
The minister also addressed critical geopolitical concerns during the summit, specifically condemning Iran’s actions against commercial shipping and the ongoing closure of the Strait of Hormuz. He reiterated the UAE’s demand for the immediate, unconditional reopening of the waterway, emphasizing the necessity of protecting international shipping and freedom of navigation in line with international law.
While the ministers explored themes of market connectivity and trade resilience, they were ultimately unable to reach a consensus on a joint declaration. Reflecting on the meeting, Al Zeyoudi noted that cooperation between developing economies and emerging markets is vital during periods of global trade uncertainty. He affirmed the UAE’s commitment to using the BRICS platform to promote an open, predictable trading environment, aiming to convert these high-level discussions into practical benefits for the business community.
Economic data highlights the growing significance of the BRICS bloc to the UAE. In 2025, non-oil bilateral trade between the UAE and BRICS members reached over $312 billion, marking a 28.5% increase from the $243 billion recorded in 2024. These nations now account for approximately 31% of the UAE’s total non-oil foreign trade, representing 34% of imports, 23% of non-oil exports, and 28% of re-exports. The BRICS community, which expanded to ten members in 2025 with the inclusion of Indonesia, now represents roughly 40% of the global population and 25% of the world’s GDP.
The UAE’s engagement in Jaipur aligns with its broader trade strategy, which seeks to grow non-oil foreign trade to US$1.1 trillion by 2031 through its Comprehensive Economic Partnership Agreement (CEPA) program. Since September 2021, the UAE has finalized 38 such agreements, with 18 currently in force, including pacts with India and Indonesia. Specifically, the UAE-India CEPA, which has been in effect since May 2022, saw bilateral non-oil trade climb to US$76.2 billion in 2025—a 17.3% annual increase.
Furthermore, the UAE recently concluded CEPA negotiations with Canada. Announced during a visit by Al Zeyoudi to Canada alongside a delegation of Emirati business leaders and officials, the deal represents the fastest negotiation in the UAE’s CEPA program to date. This agreement is expected to bolster bilateral trade, which grew 21% to approximately US$4.2 billion in 2025, by eliminating bureaucratic barriers and reducing tariffs once the agreement is formally ratified.
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 comm
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.
The BRICS community expanded from five to nine member nations in 2024, with Indonesia joining as its tenth member in 2025.
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.”
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.
Both sides reaffirmed their commitment to advancing trade facilitation and strengthening private-sector collaboration in high-growth sectors.
The conclusion of negotiations represents the fastest achievement within the UAE’s CEPA programme since its launch in September 2021, a testament to the shared ambition and political will on both sides to elevate the bilateral relationship to new heights of economic and investment cooperation.
The CEPA is set to enhance the already significant bilateral trade, which reached approximately US$4.2 billion in 2025 – reflecting growth of 21% compared to the previous year.
Upon ratification and entry into force, the CEPA will cut tariffs, eliminate bureaucratic hurdles, and expand market access for businesses in both the UAE and Canada.