BRASILIA- 7 JAN - Brazil announced yesterday that Indonesia has become a full member of BRICS, the bloc of emerging economies viewed as a growing counterbalance to Western influence.
BRASILIA -7 JAN - Brazil announced yesterday that Indonesia has become a full member of BRICS, the bloc of emerging economies viewed as a growing counterbalance to Western influence. Brazil’s foreign ministry stated that Indonesia shares the group’s goals of reforming global governance institutions and strengthening cooperation within the Global South. Indonesia’s membership was officially approved at a 2023 BRICS summit in Johannesburg. The group, originally founded in 2009 by Brazil, Russia, India, and China, expanded in 2010 to include South Africa, and last year welcomed Iran, Egypt, Ethiopia, and the United Arab Emirates as full members.
Brazil, which holds the rotating presidency of BRICS in 2025, aims to enhance cooperation between countries in the Global South and pursue reforms in multilateral institutions. One of the key goals is to develop alternative payment systems to facilitate trade within the bloc, reducing reliance on the US dollar. At the last BRICS summit in Kazan, Russia, member nations discussed strengthening local currencies and increasing non-dollar transactions, a move that drew criticism from US President-elect Donald Trump, who threatened tariffs on members if they undermined the US dollar. The 2025 BRICS summit will be held in Rio de Janeiro in July.
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