Saudi Arabia Still Weighing BRICS Membership In 2023

For several decades, global economic alliances have been evolving under the influence of geopolitical and economic transformations. The BRICS bloc embodies this dynamic through its expansion to new members in order to consolidate its influence on the international stage. In 2023, Saudi Arabia, the world’s largest oil exporter, received an official invitation to join this strategic alliance. However, unlike other countries such as Iran or the United Arab Emirates, which quickly accepted, Riyadh adopts a cautious stance. Faisal Al-Ibrahim, Saudi Arabia’s Minister of Economy and Planning, emphasized that the kingdom continues to carefully evaluate the implications of membership. This strategic choice raises questions about the real intentions of Saudi Arabia and its future role in this new economic balance.

A prolonged evaluation process

Saudi Arabia is continuing its evaluation of the membership offer to the BRICS, more than a year after receiving an official invitation in 2023. Faisal Al-Ibrahim, Minister of Economy and Planning, explained during the World Economic Forum in Davos that the kingdom prioritizes a thoughtful approach. He stated that the country remains focused on the goal of “global dialogue” and carefully examines the “numerous aspects” related to a potential membership. According to him, this decision goes beyond economic considerations and involves complex strategic implications.

Unlike other nations invited in the same year, such as Iran, Egypt, or the United Arab Emirates, which quickly integrated into the alliance, Saudi Arabia adopts a more reserved stance. This caution contrasts with the general enthusiasm surrounding the expansion of the BRICS, a group seeking to enhance its influence on the global chessboard. The inclusion of Riyadh in the bloc, as the world’s largest oil exporter, would offer a unique opportunity to connect major energy producers with the main consumers of emerging economies. Such a convergence could profoundly transform the global economic and energy balances.

Strategic hesitation or geopolitical calculation ?

Beyond a simple technical evaluation, Saudi Arabia’s hesitation to join the BRICS seems to be influenced by deeper geopolitical considerations. Faisal Al-Ibrahim emphasized that the invitation from the BRICS was just one among “many other multilateral platforms” that have solicited the kingdom. This remark indicates a clear strategy of diversifying international partnerships, aiming to avoid any exclusive alignment with a particular group or alliance.

This cautious positioning may also be explained by the kingdom’s close ties with traditional allies, notably the United States, and by the desire to avoid being drawn into potential internal tensions within the BRICS. The bloc, composed of members with sometimes diverging priorities, could pose challenges in terms of political and economic coordination. However, a potential membership of Saudi Arabia would have significant repercussions for the global economic order. Through its integration into this group, Riyadh would strengthen the convergence between oil producers and large emerging economies that consume energy, thus consolidating the influence of the BRICS in global markets. Such a dynamic could redefine international economic relations, as well as accelerate the shift towards a multipolar order in which emerging economies play a central role.

The decision of Saudi Arabia goes far beyond immediate economic considerations and reflects a strategic vision in the face of the changes in a multipolar world. By choosing whether or not to integrate into the BRICS, the kingdom could redefine the geopolitical and energy balances globally. Membership would offer the alliance increased influence over global markets, thanks to Riyadh’s central role in the oil industry. Conversely, Saudi Arabia would confirm its cautious approach aimed at preserving strategic autonomy in order to explore other multilateral opportunities. Regardless of its choice, the kingdom affirms itself as a key player whose decisions shape the contours of a rapidly transforming global economy.