Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan told Al Arabiya TV on Thursday that the Kingdom appreciated the invitation by BRICS to join the group and would study the details before the proposed January 1 joining date and take “the appropriate decision.”
Prince Faisal bin Farhan said BRICS was “a beneficial and important channel” to strengthen economic cooperation.
South African President Cyril Ramaphosa announced Thursday that the BRICS club of emerging nations will admit six new members, including Saudi Arabia, UAE and Iran, at the start of next year.
“We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia, and the United Arab Emirates, to become full members of BRICS. The membership will take effect from the first of January 2024,” Ramaphosa told a summit in Johannesburg.
Earlier on Thursday, Prince Faisal said that Saudi Arabia was looking forward to developing more cooperation with BRICS nations.
“We look forward to develop this cooperation to create new developmental and economic opportunities and elevate our relationship to the aspired level,” he told a BRICS summit.
Prince Faisal also said the Kingdom will continue to be a reliable source of energy and had the tools to maintain stable energy markets.
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan said that the kingdom shares “common principles” with the BRICS countries, during his speech at the group’s annual summit in South Africa’s Johannesburg. The BRICS – Brazil, Russia, India, China and South Africa – agreed to make Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates full members from January 1.
Prince Faisal bin Farhan, Saudi Foreign Minister stated, “Saudi Arabia enjoys a strong friendship, trade relationships and strategic partnerships with all the countries of the (BRICS) cooperation. The kingdom is proud of being the largest trading partner of the BRICS group in the Middle East. The total bilateral trade with the countries of the group exceeded $160 billion in 2022.”
The Saudi Foreign Minister concluded, “The strategic relationship between the kingdom and the countries of the BRICS group is reinforced by frameworks of common principles, the most prominent of which is the firm belief in the principle of respecting the sovereignty and independence of states, not interfering in their affairs, adhering to the principles of international law and settling disputes by peaceful means.”