RIYADH: Saudi Arabia appreciates an invitation by BRICS to join the group and would study the details before the proposed Jan. 1 joining date, the Kingdom’s foreign minister said on Thursday.

Speaking to Al-Arabiya, Prince Faisal bin Farhan said the Kingdom would take “the appropriate decision” regarding the matter.

The foreign minister added that BRICS was “a beneficial and important channel” to strengthen economic cooperation.

Earlier on Thursday, Prince Faisal said the Kingdom is looking forward to developing more cooperation with BRICS nations.

“We look forward to developing this cooperation to create new developmental and economic opportunities and elevate our relationship to the aspired level,” Prince Faisal told the BRICS summit in Johannesburg.

Saudi Arabia stresses the importance of activating collective and multilateral action, he said, and his country is keen to exercise its responsibilities to sustain international cooperation within BRICS.

Prince Faisal also said the Kingdom will also continue to be a reliable source of energy and had the tools to maintain stable energy markets.

The BRICS group of nations decided at a summit this week in Johannesburg to invite six countries – Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates – to become new members of the bloc, South African President Cyril Ramaphosa said on Thursday.

BRICS membership of new countries will take effect on Jan. 1, 2024, said Ramaphosa.

BRICS is a diverse group of nations.
 
It is an equal partnership of countries that have differing views but a shared vision for a better world.
 
As the five #BRICS members, we have reached agreement on the guiding principles, standards, criteria and procedures of the #BRICS…

— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) August 24, 2023

UAE President Mohamed Bin Zayed praised the decision to include his country in BRICS. 

نقدر موافقة قادة مجموعة "بريكس" على ضم دولة الإمارات العربية المتحدة إلى هذه المجموعة المهمة. ونتطلع إلى العمل معًا من أجل رخاء ومنفعة جميع دول وشعوب العالم.

— محمد بن زايد (@MohamedBinZayed) August 24, 2023

In a statement, Egypt’s President Abdel Fattah El-Sisi thanked BRICS leaders for inviting his country to join the group, vowing to work with other members for the benefit of developing countries.

“We look forward to coordinate with BRICS to achieve the group’s goals in supporting economic cooperation and raise the voice of countries in the south regarding different challenges that we face,” he said.

Ethiopia’s Prime Minister Abiy Ahmed Ali hailed his country’s accession to the bloc as a ‘great moment’ for his country.

“Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order,” he said.

A great moment for #Ethiopia as the BRICS leaders endorse our entry into this group today. Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order. pic.twitter.com/BPspm8C0jm

— Abiy Ahmed Ali 🇪🇹 (@AbiyAhmedAli) August 24, 2023

A senior adviser to Iran’s president on Thursday hailed the country’s forthcoming admission to the BRICS grouping as a triumph of diplomacy for the Islamic republic.

Thursday’s announcement came amid intensified diplomacy by Iran to reduce its isolation, improve its economy and offset the impact of crippling sanctions reimposed after the 2018 withdrawal of the United States from a landmark nuclear deal.

“Permanent membership in the group of global emerging economies is considered a historic development and a strategic success for the foreign policy of the Islamic republic,” Mohammad Jamshidi wrote on X, formerly known as Twitter.

In a historic move, Islamic Republic of Iran becomes permanent member of BRICS. A strategic victory for Iran's foreign policy. Felicitations to the Supreme Leader of Islamic Revolution and great nation of Iran.

— Mohammad Jamshidi (@MhmmdJamshidi) August 24, 2023

Argentina’s President Alberto Fernandez said BRICS’ invitation is a “great opportunity to strengthen ourselves” and to “raise the possibility of reaching new markets.”

Se abre un nuevo escenario para la Argentina: nos hemos incorporado a la alianza de los BRICS.

Es un nuevo paso en la consolidación del país fraterno y abierto al mundo que siempre soñamos ser.

Estamos frente a una gran oportunidad para fortalecernos 🇦🇷 pic.twitter.com/dpVvMAuNMK

— Alberto Fernández (@alferdez) August 24, 2023

The expansion could also pave the way for dozens of interested countries seeking admission to BRICS at a time when geopolitical polarization is spurring efforts by Beijing and Moscow to forge it into a viable counterweight to the West.

Brazil’s President Luiz Lula da Silva, who joined the Johannesburg summit, said that Saudi Arabia, Argentina, Ethiopia and the UAE have all shown interest to join BRICS. 

Russia’s Vladimir Putin hailed BRICS membership expansion and said work with new members should start immediately. 

India’s Prime Minister Narendra Modi meanwhile said the new members to BRICS will further strengthen and give shared efforts a new impetus.

Speaking at the BRICS Summit. https://t.co/n93U4Vbher

— Narendra Modi (@narendramodi) August 24, 2023

Chinese President Xi Jinping said BRICS are all nations with important influence, shouldering important responsibilities for world peace and development.

The debate over enlargement has topped the agenda at the three-day summit taking place in Johannesburg. And while all BRICS members publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly.

Though home to about 40 percent of the world’s population and a quarter of global gross domestic product, BRICS members’ failure to settle on a coherent vision for the bloc has long left it punching below its weight as a global political and economic player.

More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted.

They represent a disparate pool of potential candidates motivated largely by a desire to level a global playing field many consider rigged against them and attracted by BRICS’ promise to rebalance the global order.

– with agencies