KSA’s overall value of bilateral trade with BRICS reaches USD160b in 2022


(MENAFN) Foreign Minister Prince Faisal bin Farhan bin Abdullah stated on Friday that the overall worth of two-sided exchange among Saudi Arabia and BRICS member states reached USD160 billion last year, making the country the biggest Middle Eastern exchange partner of the bloc.

While giving a speech at a ministerial conference of Friends of BRICS in the South African town of Cape Town, Prince Faisal also stated that the nation was preparing to develop another collaboration with the BRICS group in order to achieve a collective prosperity.

“The kingdom remains the BRICS group’s largest commercial partner in the Middle East,” he stated. “The total value of bilateral trade with the countries of the BRICS group increased from USD81 billion in 2017 and 128 billion in 2021 and exceeded USD160 billion in 2022.”

In line with the minister, Saudi Arabia shares fundamental morals with the BRICS nations, trusting that ties among nations should be founded on the values of respect for sovereignty, non-interference, as well as adherence to global law.

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