Saudi Arabia is still considering an offer to become a member of BRICS since it was asked to join it last year. BRICS also invited the United Arab Emirates, Egypt, Iran, Argentina and Ethiopia also starting this year.
However, Argentina has rejected the invitation since last November.
According to sources, January 1 is not the time to make a decision. The reason that strengthens the hope of the offer is that China and India are also the largest trading partners of the group.
Saudi Arabia is still in the evaluation phase before making a decision. The group will add economic growth to the BRICS members just like its current members China, Brazil, Russia, India and South Africa.
Saudi Arabia's Minister of Economy, Faisal Alibrahim confirmed that the government is still in the process of making a decision to join the group. Saudi Arabia is a government that has various directions and institutions and they have to go through various long processes until the final phase.
Riyadh has to go through a difficult phase because of the growing geopolitical tensions between the United States, China and Russia. Currently, China and Russia have a little conflict with the US from various aspects.
Although relations between Saudi Arabia and the United States are very strong, joining the group could have side effects on diplomatic relations for the two countries.
Last Tuesday, Saudi Arabia's Trade Minister stated that they are not joining the BRICS in a panel at the World Economic Forum in Davos. According to Kremlin spokesman Dmitry, Saudi Arabia is an important weapon in strengthening the economic group.
Based on the UAE's position, fellow members of the Gulf Cooperation Council (GCC) said that they accepted the group's invitation for economic reasons rather than political ones.
