The UAE in BRICS: what it means for business between Russia and the Gulf

The United Arab Emirates was invited to join BRICS at the 15th summit in Johannesburg in August 2023 and became a full member on 1 January 2024. Abu Dhabi framed the decision as a commitment to multilateralism and constructive dialogue. For business, the more practical reading is simpler: the UAE has added another platform to a strategy it has followed for decades — being the place where trade routes meet.

From pearl diving to a diversified economy

In half a century the Emirates moved from a group of pearl-diving sheikhdoms to one of the most diversified economies in the region. Oil and gas still matter — roughly a third of GDP — but tourism, aviation, finance, real estate and logistics now carry the growth story. Jebel Ali, Dubai International and the two national carriers connect Europe, Asia and Africa.

Why BRICS matters to the UAE

Four directions stand out. First, trade and investment with China, India, Russia and Brazil. Second, diversification through cooperation in renewable energy, technology transfer and agriculture. Third, energy partnerships, including with Russia. Fourth, alternative financial infrastructure: new payment channels and less dependence on a single system.

What this means for Russian and Gulf companies

For Russian exporters, the UAE is increasingly a regional headquarters rather than just a market: a base for re-exports to the Gulf, South Asia and Africa. For Gulf investors, Russia remains a large market where preparation, local partners and clear legal advice decide the outcome. In both directions, the companies that win are those that do their homework on regulation, payments and partners before the first meeting.

My practical advice: treat BRICS as context, not as a business plan. The membership opens doors at the political level; the deal is still built on a specific buyer, a reliable partner and a clear first step.