Trade Soars Between Saudi Arabia and BRICS Nations

On June 2, Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah announced that the total value of bilateral trade between Saudi Arabia and BRICS member states topped $160 billion in 2022. “Speaking at a ministerial meeting of Friends of BRICS in the South African city of Cape Town, Prince Faisal also said the Kingdom was planning to develop further cooperation with the BRICS group to achieve collective prosperity,” reported RT. “The Kingdom remains the BRICS group’s largest commercial partner in the Middle East. The total value of bilateral trade with the countries of the BRICS group increased from $81 billion in 2017 and $128 billion in 2021 and exceeded $160 billion in 2022.”