The BRICS, a group of emerging economies, is expected to undergo a significant transformation with the official announcement by Saudi Arabian television on Tuesday that the country had joined the bloc. This marks a doubling of the group’s membership, previously consisting of Brazil, Russia, India, China, and South Africa.
Saudi Arabia’s decision to join the BRICS stems from a confluence of factors.
Prior to the official announcement, Prince Faisal Bin Farhan, the kingdom’s foreign minister, previously acknowledged the group’s potential as a “beneficial and important channel” for bolstering economic cooperation.
Additionally, the kingdom’s burgeoning relationship with China, its largest oil customer, and China’s leading role in advocating for BRICS expansion would have played a role. Beyond economic considerations, geopolitical dynamics may have also influenced Saudi Arabia’s choice.
Amidst rising tensions between the US and China and concerns about waning American commitment to Gulf security, Saudi Arabia may have seen in the BRICS bloc a platform to diversify its partnerships and pursue its own strategic interests.
The inclusion of Saudi Arabia, along with the United Arab Emirates, Egypt, Iran, and Ethiopia, who were all scheduled to join the group by January 1, 2024, marks a significant shift for the BRICS. This expansion could amplify the group’s declared ambition to become a champion of the Global South, advocating for the interests of developing nations on the world stage.
However, Argentina’s decision to decline an invitation to join BRICS highlights the potential challenges of accommodating diverse priorities within the enlarged bloc.
In addition, the impact of this expansion on the BRICS’ internal dynamics and its role in the global order remains to be seen. While the group’s potential influence is undeniable, questions remain about its ability to effectively represent the interests of its diverse membership and navigate the complex geopolitical landscape.
Saudi Arabia’s decision is not without consequences, including fears that the U.S.-backed yet-to-be-signed Saudi Arabia-Israel peace deal may be jeopardized.
Therefore, in the coming days, the inclusion of Saudi Arabia, a major oil producer, regional power, and ally of the U.S., adds a new layer of complexity and intrigue to the BRICS story. As the group continues to evolve, its impact on the global economic and political landscape will be closely watched.
