DUBAI, September 2. /TASS/. The United Arab Emirates sees "exceptional opportunities" for the work of its financial institutions as part of interaction with BRICS countries, Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance said in an interview with the WAM news agency.

"UAE's membership in BRICS represents a strategic achievement for its financial sector, opening new avenues for collaboration and creating exceptional opportunities for UAE financial institutions to engage with their counterparts in BRICS countries," he said.

The official also noted that the UAE, by strengthening relations with the BRICS countries, seeks to expand economic, trade and investment prospects for members of the regional association. The country, in particular, expects to play an innovative and key role in developing the initiatives put forward by the group, including through the implementation of joint infrastructure projects.

"The UAE's BRICS membership will strengthen efforts to build balanced economic relations, advance sustainable national economic growth, and solidify its position in emerging and developing markets," Al Khoori added.

In August 2023, six new members were invited to join the BRICS group, including Argentina, but in late December it refused to join. Five new members - Egypt, Iran, the UAE, Saudi Arabia and Ethiopia - began working in BRICS on January 1 under the chairmanship of Russia.