Saudi Arabia has recently made significant diplomatic strides by becoming a dialogue partner in the Shanghai Cooperation Organisation (SCO). This development has opened doors for the kingdom to further strengthen its ties with the member countries of this influential regional association. Additionally, Saudi Arabia has expressed its intention to join the BRICS (Brazil, Russia, India, China, and South Africa), a move that promises various advantages for the nation’s economic and political interests.
The membership of Saudi Arabia as a dialogue partner in the SCO is a clear testament to the kingdom’s growing influence and stature in the international arena. The SCO, initially established in 2001, serves as a platform for cooperation on security and economic issues among its member nations. It includes major powers such as China, Russia, and India, alongside Central Asian countries like Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.
Saudi Arabia’s involvement as a dialogue partner could bring numerous benefits to both the kingdom and the SCO. Firstly, the kingdom’s extensive experience and expertise in the energy sector could contribute significantly to the SCO’s energy cooperation initiatives. As the world’s largest oil exporter, Saudi Arabia’s participation in the SCO could enhance energy security and stability in the region, ensuring a steady supply of resources to member countries.
Furthermore, the kingdom’s engagement with the SCO can foster closer economic ties with its member nations. Saudi Arabia’s Vision 2030, a comprehensive plan to diversify its economy and reduce dependence on oil, aligns with the SCO’s goals of promoting regional economic integration and connectivity. By collaborating with the SCO, Saudi Arabia can gain access to a vast market of over three billion people, opening new opportunities for trade and investment.
In addition to its SCO partnership, Saudi Arabia’s expressed interest in joining the BRICS is another significant milestone. The BRICS, an association of emerging economies, is a powerful economic bloc that represents about 42% of the global population and roughly 23% of the world’s GDP. The inclusion of Saudi Arabia in this group could significantly enhance the kingdom’s economic profile and provide a platform for greater collaboration with influential countries outside the Middle East.
By joining the BRICS, Saudi Arabia can tap into the considerable investment potential within these emerging markets. The kingdom’s Vision 2030 plan is heavily focused on attracting foreign investment, and the BRICS countries could offer lucrative opportunities for diversifying its economy. Additionally, membership in the BRICS would allow Saudi Arabia to contribute its economic and financial expertise while also benefiting from knowledge sharing and technical cooperation among the member states.
Furthermore, Saudi Arabia’s inclusion in the BRICS would provide the kingdom with a stronger voice in shaping global economic policies. The BRICS countries have increasingly demanded reform in international financial institutions to better reflect the realities of the modern global economy. As a member, Saudi Arabia can actively participate in these discussions and influence decisions that have a direct impact on its economic interests.
In conclusion, Saudi Arabia’s accession as a dialogue partner in the SCO and its expressed interest in joining the BRICS showcase the kingdom’s commitment to deepening its diplomatic and economic engagements with influential regional and global associations. These memberships offer immense opportunities for Saudi Arabia to bolster its energy cooperation, expand its economic partnerships, attract foreign investment, and actively participate in shaping global economic policies. As the kingdom continues to make strides on the international stage, it is positioning itself as a key player in shaping the future of global affairs.