Finance Saudi Arabia still assessing joining Brics says minister By Pramod Kumar January 21, 2025, 10:46 AM SPA Saudi Arabia is always focusing on fostering more global dialogue, said economy minister Faisal Alibrahim Saudi Arabia is still evaluating accepting the membership in the Brics bloc, the minister of economy and planning has said. “The kingdom is always focusing on fostering more global dialogue,” Faisal Alibrahim told Bloomberg TV at the World Economic Forum in Davos, Switzerland. In August 2023, founding members, Brazil, Russia, India and China, together with South Africa, which joined a year after the bloc came together in 2009, invited six other nations – Saudi Arabia, the UAE, Egypt, Ethiopia, Iran and Argentina – to become part of the bloc. Argentina declined the invitation once President Javier Milei took office in January 2024, reversing his predecessor’s membership bid. Alibrahim said Saudi Arabia has been invited to join many multilateral platforms in the past, adding that the government is assessing different aspects before taking a decision. Brics currency branded ‘fantasy’ as Trump threatens tariffs With Saudi on side, the Brics can change the world Egypt asks to join Brics to lessen dependency on dollar The kingdom has not formally become a member of the Brics, Saudi minister of commerce Majid Al Kasabi told the World Economic Forum in Davos in January 2024. The five invitees had sent senior-level representatives to a Brics “sherpa meeting” in 2023, where representatives of the leader of a nation come together for negotiations.