Saudi Arabia has expressed interest in joining the BRICS economic group which includes Brazil, Russia, India, China and South Africa, South African President, Cyril Ramaphosa, said yesterday.
Ramaphosa, who has just returned from an official visit to Riyadh, said Saudi Crown Prince, Mohammed Bin Salman Al Saud, had expressed the kingdom’s desire to be part of BRICS.
“They are not the only country [seeking membership in BRICS],” local radio station ABC reported Ramaphosa saying.
The South African president said his country will chair the BRICS summit in 2023, adding that during the summit the issue of expanding the group will be considered.
The bloc is considered to have the fastest economic growth in the world, where the BRICS countries contribute about 25 per cent of the world’s total output, and occupy about 26 per cent of the world’s land.
According to the global banking group Goldman Sachs, by 2050 the economies of the BRICS countries are expected to compete with the economies of the richest countries in the world.