The BRICS bloc led by China and Russia invited six new countries to join the group at its 15th summit in South Africa last August. However, Argentina was the first country to reject BRICS membership because newly elected President Javier Milei was skeptical about the bloc.

Only the United Arab Emirates (UAE), Iran, Egypt and Ethiopia have become members of the bloc since January 2024. Meanwhile, Saudi Arabia has so far not "finalized" whether to join BRICS or not.

Saudi Arabia has not yet made a final decision, as Riyadh is still going through certain processes to join the group, South African Ambassador to Russia Mzuvukile Geoff Maqetuka said in an interview with state news agency TASS published on February 27.

“Saudi Arabia is still going through its own processes. One, as a country. Two, with its BRICS partners. Saudi Arabia has not yet, not confirmed. We will see that when we get to the Summit this year in Kazan,” Ambassador Maqetuka explained.

According to Watcher Guru, Saudi Arabia is weighing its options to be on the safe side, as the Arab world's leading Kingdom wants the support of both BRICS and the West.

Riyadh needs the support of BRICS and other developing countries as they are the partners who buy its oil and engage in other trade and services. Riyadh also needs the US and other Western allies to sustain its economy and business in a country where the Petrodollar (petrodollar) still holds sway.

Despite its efforts to transition away from an oil-based economy, Saudi Arabia cannot sustain its GDP without oil. The kingdom is also opening its economy to tourism, and challenging the West would be a costly mistake. Neighboring UAE has become a global investment hub after opening its economy to tourism.

Saudi Arabia wants to replicate the UAE’s success, and this process requires the support of the US and other Western allies. Therefore, Riyadh is said to be delaying its BRICS membership to avoid “displeasing” the West, said Watcher Guru.

BRICS was founded in 2006, initially comprising Brazil, Russia, India and China. South Africa joined the group in 2011. 2023 marks the bloc's first expansion.

This year, as the rotating BRICS Chair, Russia will host the bloc's Summit next October in the city of Kazan, one of the oldest and largest cities in the country's west.

The BRICS leaders' meeting in the Russian city will see decisions on further expansion of the bloc, with 25 countries currently on the “waiting list” to join BRICS, according to South African Ambassador Maqetuka.

Mr. Maqetuka stressed that it is important to clarify how a country can join BRICS.

“I don’t want to use the word apply because to become a BRICS member, there are two processes. In the first process, you can indicate that you intend to join. In the second process, you can directly say that you want to join,” the Ambassador explained, adding that the list of candidates will be clear at the next Summit, and BRICS will expand.

“Who will be the next rotating chairman after Russia? It will be Brazil. Brazil will still be dealing with this issue until the leaders decide to pause. But in Kazan, it is obvious that there will be new members,” Maqetuka said, but noted that the issue of accepting new members will have to be gradual .

Minh Duc (According to TASS, Watcher Guru)