Saudi Arabia considering BRICS membership

Saudi Arabia is still considering an invitation to become a member of the BRICS bloc of countries after the first opportunity to join passed earlier this month, two sources with direct knowledge of the matter told Reuters on Thursday. Jan. 1 was not the deadline for a decision, the two sources said, with one adding there were strong benefits to joining the bloc as China and India are the kingdom's biggest trading partners.

"Saudi Arabia is assessing the benefits and then will make a decision, there is a process happening," one of the sources said.

BRICS, formed by Brazil, Russia, India, China, and South Africa, invited six more nations in August including Saudi Arabia. Fellow Gulf Cooperation Council (GCC) member, the UAE, said it had accepted the invitation and joined the BRICS bloc, according to the ministry of foreign affairs.