CAPE TOWN — Saudi Foreign Minister Prince Faisal bin Farhan has said the Kingdom is the largest trading partner of the BRICS group in the Middle East.
He made the remarks during a ministerial meeting of the BRICS Friends in Cape Town on Friday. “Trade relations with the BRICS countries have witnessed continued growth, reflecting the excellent and developed relations among the countries of the group. The total bilateral trade with the countries of the group increased from $81 billion in 2017 to $128 billion in 2021 and $160 billion in 2022.
Prince Faisal affirmed that Saudi Arabia is keen to develop future cooperation with the BRICS group by benefiting from the Kingdom’s capabilities to meet common interests and achieve prosperity for all.
He explained that the Kingdom shares basic values with the BRICS countries, namely the belief that relations between countries are based on the principles of respect for sovereignty, non-interference, adherence to international law, the existence of multilateral frameworks and collective action as reference points to face common challenges.
“The Kingdom also shares with other countries its belief in the importance of peace, security and stability in order to refocus efforts toward national development and common prosperity,” he said.
The Saudi minister added that the Kingdom continues to be committed to working with international partners to achieve the goals of sustainable development by 2030, and to intensify global efforts to enhance food and energy security amid recurring crises and supply chain issues. He mentioned that the Kingdom is a leading country in the field of humanitarian and development aid in all fields worldwide as it is among the top 10 donors to low- and middle-income countries.
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