Kingdom

2024

United

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 <p>Conflicting reports about <a rel="noopener noreferrer nofollow" title="Saudi Arabia" href="https://thebittimes.com/tag/saudi-arabia.html">Saudi Arabia</a> joining the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> alliance on January 1, 2024, are making the rounds lately. Reuters reported that <a rel="noopener noreferrer nofollow" title="Saudi Arabia" href="https://thebittimes.com/tag/saudi-arabia.html">Saudi Arabia</a> is yet to accept the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> invitation and the decision to join the bloc is pending. The report states that the Kingdom of <a rel="noopener noreferrer nofollow" title="Saudi Arabia" href="https://thebittimes.com/tag/saudi-arabia.html">Saudi Arabia</a> has not signed the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> agreement and is reevaluating the benefits of being a part of the alliance.</p>
 <p><strong>Also Read:&nbsp;BRICS: U.S. Dollar Ranks Last in the Top 10 Currency List</strong></p>
 <p>Sources close to the development said that Jan. 1, 2024, is not the deadline for a decision. The timeline is much ahead giving countries that are invited ample time to discuss joining BRICS. Therefore, Saudi Arabia is still considering its options for joining BRICS and will conclude soon.</p>
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 <p><strong>“<a rel="noopener noreferrer nofollow" title="Saudi Arabia" href="https://thebittimes.com/tag/saudi-arabia.html">Saudi Arabia</a> is assessing the benefits and then will make a decision, there is a process happening,” </strong>said a source with direct knowledge of the matter.</p>
 <p><strong>Also Read:&nbsp;3 Countries Agree To Launch BRICS Currency To Challenge US Dollar</strong></p>
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 <p>Faisal Alibrahim, Saudi Arabia’s economy minister also confirmed that the Kingdom has not joined BRICS yet. He explained that the Kingdom is going through an internal process and a decision will be made soon.</p>
 <p><strong>“The kingdom is a part of many multilateral platforms and multilateral institutions and whenever the kingdom is invited into one of them it goes through a process that is a multi-step process and at the end of it a decision is made. Right now we are in a similar process and I will comment at the end of it,”</strong> Alibrahim told Reuters.</p>
 <p><strong>Also Read: These 25 Countries Are Ready To Join BRICS in 2024</strong></p>
 <h2 class="wp-block-heading" id="h-why-is-saudi-arabia-taking-time-to-join-brics">Why is Saudi Arabia Taking Time To Join BRICS?</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="621" src="https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp" alt="saudi arabia kingdom prince mbs" class="wp-image-125475" srcset="https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 1024w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 300w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 768w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 1536w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 380w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 550w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 800w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 1160w, https://cdn.thebittimes.com/images/2024/01/20/6a658c9e4d29baaae0180089f53ccacc.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Bandar Algaloud / Getty
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 <p><a rel="noopener noreferrer nofollow" title="Saudi Arabia" href="https://thebittimes.com/tag/saudi-arabia.html">Saudi Arabia</a> is weighing options about joining <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> in the backdrop of rising tensions between the US, China, and Russia. The Kingdom does not want to be in a disadvantaged situation and cut ties with the US and the West.</p>
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 <p>The Kingdom is also planning to open up the country to tourists similar to the United Arab Emirates. A misstep could prove costly for Saudi Arabia at a time when they’re aiming to partially liberalize the country.</p>
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  <li>BRICS</li>
  <li>Saudi Arabia</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/saudi-arabia-to-decline-brics-membership-tbt77181.html">https://thebittimes.com/saudi-arabia-to-decline-brics-membership-tbt77181.html</a></p>

Saudi Arabia To Decline BRICS Membership?

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