In a historic move, Indonesia has officially joined the BRICS group of emerging economies, becoming its tenth full member. This announcement was made on Monday by Brazil, a founding member and the current holder of the rotating presidency set for 2025.

The Brazilian government expressed its enthusiasm in a statement: "The Brazilian government welcomes Indonesia's entry into the BRICS. 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, the world's fourth-most populous nation, had its bid endorsed by BRICS leaders back in August 2023. However, the country chose to delay its formal accession until after the formation of its newly elected government, ensuring a smooth integration into the bloc.

The Foreign Affairs Ministry in Jakarta celebrated this milestone, stating that it reflects Indonesia's growing commitment to addressing global issues and enhancing multilateral cooperation to foster a more inclusive and equitable international system.

What is BRICS?

BRICS, originally formed by Brazil, Russia, India, and China in 2009, later welcomed South Africa in 2010, establishing a coalition designed to counterbalance the dominance of the G7, comprised of the world's most developed economies. The group's influence has been on the rise, with recent expansions that included Iran, Egypt, Ethiopia, and the United Arab Emirates in 2024.

With Indonesia's addition, BRICS now represents 46% of the global population and accounts for approximately 35% of the world’s GDP, enhancing its status as a significant player in international economic affairs. Notably, Saudi Arabia has received an invitation to join but has not yet accepted, while countries like Turkey, Azerbaijan, and Malaysia have formally applied for membership.

The most recent BRICS summit took place in Kazan, Russia, in October 2024, where discussions revolved around strengthening local currencies and decreasing reliance on dollar transactions. This focus has drawn criticism from US President-elect Donald Trump, who threatened retaliatory tariffs on BRICS nations.

Looking ahead, the next BRICS summit is set to occur in Rio de Janeiro in July 2025, promising to be another pivotal moment for the bloc as it seeks to redefine the landscape of global economic governance.

As international dynamics continue to evolve, Indonesia's inclusion in BRICS marks a significant step towards a more multipolar world, where developing nations collectively strive for greater representation and influence on the global stage. Stay tuned for more updates on how this new alliance will reshape international relations!