Annual Investment Congress in UAE discusses impact of BRICS countries on global economy

The UAE capital Abu Dhabi hosted the Annual Investment Congress (AIM Congress 2024) on 7-9 May. More than 100 ministers, mayors and central bank governors took part in the programme of events. TV BRICS is the media partner of the congress.

The forum is organised with the support of the UAE Ministry of Industry and Advanced Technology. The theme of the congress is “Adapting to a Shifting Investment Landscape: Harnessing New Potential for Global Economic Development”.

AIM Congress 2024 was attended by 12,427 guests from 179 countries. The congress featured 412 dialogue sessions offering a comprehensive exploration of investment trends and opportunities. More than 927 speakers, including business leaders, policymakers and researchers, shared ideas for sustainable growth in the global economy.

Discussing how the BRICS expansion will affect the world's economic situation, Dawood Al Shezawi, President of AIM Global Foundation, in an exclusive commentary to TV BRICS, said that new markets have opened up for countries in the Arab world.

"I think within BRICS, there are already three states in the Arab world with the largest economies (Saudi Arabia, UAE and Egypt). They account for 66 per cent of Arab GDP. The BRICS markets, such as Brazil, Russia, China and South Africa, open up new opportunities for the members of the association and its partners. The Union of Arab Chambers is already developing co-operation with China, with Russia, with Brazil. We see a huge potential for economic co-operation," he said.

Sergey Cheremin, Head of the Department for External Economic and International Relations of Moscow, believes that the current year will be a busy one for the BRICS countries. He pointed out several possible areas of interaction between the countries of the association.

"The possibility of creating a currency of the BRICS countries is widely discussed. I think that agreements on the creation of new logistics routes will be relevant – China is actively discussing this today within the framework of the One Belt, One Road programme, trying to encourage the BRICS countries to form new logistics routes. Russia is also following the same path, actively promoting its projects: the Northern Sea Route and the North-South transport corridor"

Sergey Cheremin Head of the Department for External Economic and International Relations of Moscow

Three high-level round tables were held at the congress. During these discussions, participants explored opportunities for co-operation and innovation to overcome the complexities of today's investment landscape. The exhibition part of the AIM Congress 2024 showcased innovative products and technologies, with a total of 352 exhibits from 71 countries from around the world.

In 2024, the UAE officially joined the BRICS group and the first UAE media partner, Emirates News Agency (WAM), joined the TV BRICS International Media Network.