Saudi Arabia Becomes a Full Member of BRICS

Saudi Arabia Becomes a Full Member of BRICS

Follows announcement at BRICS summit in Johannesburg in August 2023

Saudi Arabia has officially become a full member of the BRICS group of emerging economies. Saudi state TV said that Riyadh's membership of the bloc would bolster its image abroad.

The leaders of the five BRICS nations - Brazil, Russia, India, China and South Africa - approved the group's expansion in August by adding Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and United Arab Emirates.

At the BRICS summit in Johannesburg in August, the member nations had approved the proposal to admit six countries, including Argentina, into the bloc with effect from January 1.

However, Argentina’s new President Javier Milei announced last week that he is withdrawing his country from the process of becoming a member of the BRICS.

Saudi Arabia's foreign minister had said in August the kingdom would study the details before the proposed Jan. 1 joining date and take "the appropriate decision".

At the time Prince Faisal bin Farhan had said the BRICS group was "a beneficial and important channel" to strengthen economic cooperation.

Read More: UAE and Saudi Arabia Among Six Countries Invited to Join BRICS

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