UAE and Russia partner to drive women economic empowerment

The Emirates Businesswomen Council and the "Opora Russia" organization have inked a memorandum of cooperation at the St. Petersburg International Economic Forum (SPIEF). This partnership is designed to enhance collaboration in entrepreneurship, provide support for small and medium-sized enterprises, and advance women's economic empowerment.

“

The memorandum represents an important step towards strengthening economic partnerships, expanding opportunities for cooperation in supporting women entrepreneurs, and exchanging expertise in line with sustainable development goals.

The agreement was formalized in the presence of key figures including Abdulla Bin Touq Al Marri, Minister of Economy and Tourism; Dr. Mohamed Ahmad Sultan Essa Al Jaber, UAE Ambassador to Russia; and Alexander Kalinin, President of "Opora Russia." Both parties emphasized that the memorandum marks a significant stride toward reinforcing economic partnerships and broadening opportunities for women entrepreneurs, facilitating the exchange of expertise in alignment with sustainable development goals.

“

BRICS has become one of the most prominent drivers of global economic growth amid the increasing role of emerging economies and developing countries.

Meanwhile, Russian President Vladimir Putin addressed the forum, asserting that the BRICS group has emerged as a major engine of global economic growth. He noted that BRICS countries have generated nearly half of the annual increase in global GDP over the past five years, now accounting for approximately 40 percent of global GDP by purchasing power parity. Putin observed that business interest is naturally drawn to dynamic development areas with prospects for production and sales growth, indicating a shift in global trade and financial systems towards these emerging economies.

“

Over the past five years, BRICS countries have generated nearly half of the annual growth in global gross domestic product (GDP).

Putin further elaborated on BRICS' increasing influence, stating that the group's share of global merchandise trade has more than doubled, with member states contributing nearly a quarter of global exports. Intra-BRICS trade turnover has surpassed $1 trillion, and the member nations have significantly boosted high-tech exports. He concluded by emphasizing that global changes are creating vast opportunities, with growth centers shifting towards the Global South, benefiting from population growth, a burgeoning middle class, expanding domestic markets, and developing scientific capabilities. He stressed that a fairer world emerges when economic growth includes billions previously on the economic periphery, and these new centers of growth are asserting their own development paths.

“

At present, BRICS accounts for approximately 40 per cent of global GDP measured by purchasing power parity.