Saudi Arabia’s stock market will join a major emerging markets index in 2019 for the first time, in a move that is set to channel billions of dollars in investment into the kingdom ahead of a potential local listing of state oil giant Saudi Aramco.

Index compiler FTSE Russell announced late Wednesday that the kingdom’s local exchange, the Tadawul, will be classified as a secondary emerging market in March next year, joining a group of countries that includes Russia and China.