Professor Fallico on prospects of UAE's co-operation with EAEU, BRICS
The United Arab Emirates is completing negotiations with the Eurasian Economic Union, which unites five post-Soviet countries – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, in order to expand trade and investment co-operation. Professor Antonio Fallico, the President of Conoscere Eurasia Association, drew special attention to this fact at the 17th Verona Eurasian Economic Forum, which is heartily hosted these days by the Emirati city of Ras Al Khaimah, gathering representatives of government and business circles, political and public figures from Europe and Asia, including Russia, the UAE, Italy and other countries
“The UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, has recently discussed this issue with the Eurasian Economic Commission in Moscow,” the Italian expert noted. In his opinion, the recent accession to BRICS has significantly increased the weight of the UAE in the world, since this organisation intends to play a significant role in international economic development.
"This year, the choice of the venue for the Verona Eurasian Economic Forum has been made in favour of the United Arab Emirates, in favour of the Emirate of Ras Al Khaimah," Antonio Fallico stressed. “Despite its youth, the country, born in 1971, has firmly established itself in the international arena and continues to grow in strength. With a modest area and only 11 million people in population, it has become an important player not only regionally but also globally. It is one of the most influential countries in the Middle East, an important hub for air and sea transport, strengthened by an increasingly efficient infrastructure. Its economic development strategy turns out to be very wise. The country is not limited to exporting hydrocarbons, but is diversifying right before our eyes, turning into a financial, transport, and tourist centre, noticeably increasing green energy. As a result, the UAE's GDP grew from 373 billion Euros in 2019 to 456 billion Euros in 2024, its economic growth this year is expected to make 3.5 percent.”
The city of Ras Al Khaimah is hosting the 17th Verona Eurasian Economic Forum on December 5th-6th, having brought together representatives of government and business circles, political and public figures from Europe and Asia, including Russia, the United Arab Emirates, Italy, and other countries. Themed New Co-operation Architecture for Contemporary Economy, it was organised by the Italian non-profit Conoscere Eurasia Association, the Roscongress Foundation and the UAE Chamber of Commerce and Industry.
The agenda includes sessions on a wide range of global topics, including the development of energy, infrastructure, transport, finance, digitalisation and medicine.
