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Saudi trade with BRICS nations surpassed $196 billion: Prince Faisal

Saudi Foreign Minister Prince Faisal bin Farhan led the Kingdom’s delegation at the BRICS Plus 2024 Summit in Kazan, Russia, on Thursday, representing King Salman.

Prince Faisal conveyed the greetings of King Salman and Crown Prince Mohammed bin Salman to Russian President Vladimir Putin and other BRICS leaders. In his speech, he emphasized Saudi Arabia’s growing role in global multilateral cooperation.

Expressing gratitude for the warm reception, Prince Faisal acknowledged the strengthening ties between Saudi Arabia and BRICS countries. Though Saudi Arabia is not a formal member of the BRICS bloc, it actively participates in its activities as an invited nation.

“The volume of bilateral trade with BRICS countries surpassed $196 billion in 2023, accounting for 37 percent of the Kingdom’s total foreign trade,” Prince Faisal noted, highlighting the robust economic relationships that underpin Saudi Arabia’s engagement with the group.

The summit offered Saudi Arabia an opportunity to advocate for international cooperation in addressing global challenges, according to the Saudi Press Agency.

“In a time when global challenges require unity, we are instead witnessing escalating tensions and increased polarization,” Prince Faisal remarked. He urged for stronger international institutions to ensure fair representation and address the needs of all nations.

Addressing the Middle East, Prince Faisal condemned Israel’s military actions in Gaza, warning that the ongoing escalation poses a threat to both regional and global security. He called for an immediate ceasefire, unhindered humanitarian aid, and the release of hostages.

Prince Faisal also spotlighted Saudi Arabia’s recent peace efforts, including the launch of the International Alliance to Implement the Two-State Solution initiative. This initiative seeks a lasting resolution based on the 1967 borders and the creation of a Palestinian state with East Jerusalem as its capital.

He commended BRICS nations for their solidarity with the Palestinian cause and their support for a solution that respects Palestinian self-determination.

In concluding his address, Prince Faisal reaffirmed Saudi Arabia’s commitment to expanding its partnerships with BRICS and enhancing cooperation in various sectors.

“The Kingdom will continue to strengthen its partnerships with the BRICS group and broaden cooperation across all fields, striving to achieve development and prosperity on a global scale,” he stated.

The Saudi delegation also included high-ranking officials, such as Abdulrahman Al-Ahmad, the Kingdom’s ambassador to Russia, and senior advisors from the Ministry of Foreign Affairs.

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I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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