By Deutsche Welle (World News) | Created at 2025-01-06 23:44:33 | Updated at 2025-01-08 05:21:47
1 day ago
Indonesia became the tenth full member of the international BRICS group of developing economies on Monday.
The announcement was made by Brazil, a founding member of the bloc and the holder of the rotating presidency for 2025.
"The Brazilian government welcomes Indonesia's entry into the BRICS," it said in a statement.
"With the largest population and economy in Southeast Asia, Indonesia shares with other members a commitment to reforming global governance institutions and contributes positively to deepening South-South cooperation."
Indonesia's candidacy was initially endorsed by BRICS leaders in August 2023, according to the Brazilian Foreign Ministry.
But the world's fourth-most populous nation opted to postpone its formal accession to the bloc until the formation of its newly-elected government.
What is the BRICS group?
The BRICS group is named after its original founder members in 2009: Brazil, Russia, India and China, plus South Africa, which joined a year later.
In 2024, the alliance expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates.
The bloc was conceived as a counterweight to the Group of Seven (G7) developed economies, made up of the United States, Canada, the United Kingdom, France, Germany, Italy and Japan.
Prior to Indonesia's accession, the BRICS accounted for 46% of the world's population and 35% of global gross domestic product.
What is BRICS and what does it want?
Saudi Arabia has been invited to join, but has not yet done so, while Turkey, Azerbaijan and Malaysia have formally applied to become members.
The most recent BRICS summit, the 16th such gathering, took place in Kazan, Russia, in October 2024 and was hosted by Russian President Vladimir Putin.
At the summit, member states discussed strengthening local currencies and boosting non-dollar transactions, attracting criticism from US President-elect Donald Trump who threatened BRICS countries with "100 percent tariffs."
This year's BRICS summit will take place in Rio de Janeiro in July.
mf/zc (AP, AFP, Reuters)
