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Saudi Arabia Strengthens Trade Ties with BRICS Group, Announces Increase in Bilateral Trade

Saudi Arabia Strengthens Trade Ties with BRICS Group, Announces Increase in Bilateral Trade

Saudi Arabia is the largest trading partner of the BRICS group in the Middle East, according to Saudi Foreign Minister Prince Faisal bin Farhan.
He made the statement during a ministerial meeting of the BRICS Friends in Cape Town on Friday.

The total bilateral trade between Saudi Arabia and the BRICS countries increased from $81 billion in 2017 to $128 billion in 2021 and $160 billion in 2022.

Prince Faisal emphasized the importance of developing future cooperation between Saudi Arabia and the BRICS group to achieve common interests and prosperity.

He also highlighted that the Kingdom shares basic values with the BRICS countries, such as respect for sovereignty, non-interference, and adherence to international law.

Saudi Arabia is committed to working with international partners to achieve sustainable development goals and enhance food and energy security.

The Kingdom is a leading country in humanitarian and development aid, ranking among the top 10 donors to low- and middle-income countries.
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