Indonesia's candidacy was endorsed by BRICS leaders back in 2023, but the world's fourth-most populous nation of over 270 million opted to join the group only after the formation of its new government last year.
'Indonesia shares with the other members of the group support for the reform of global governance institutions, and contributes positively to the deepening of cooperation in the Global South,' the Brazilian government 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,' it added.
BRICS was founded in 2009 by Brazil, Russia, India and China, with South Africa joining two years later. Although the group was originally envisioned as a platform for mutual investment and ensuing financial stability, it later evolved into a forum with a broader agenda, including security matters.
Last year, the group was expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates as full-fledged members. Belarus, Bolivia, Kazakhstan, Thailand, Cuba, Uganda, Malaysia, and Uzbekistan have been named among those expected to officially become BRICS partner states this year.
Meanwhile, Indonesia released a statement on Tuesday welcoming its entry into the bloc of developing economies increasingly seen as a counterweight to the West.
'This is a strategic step to improve the collaborations and cooperation with other developing nations, based on the principle of equality, mutual respect, and sustainable development", the Jakarta statement said.
It also expressed Indonesia's gratitude to brazil and Russia, the 2024 BRICS chair, for the support and leadership in facilitating Indonesia's joining.
During its presidency, Brazil aims to boost cooperation between countries of the "Global South" and reform multilateral institutions.
One of the objectives, according to the government of President Luiz Inacio Lula da Silva, is the development of means of payment to facilitate trade between member countries.
During the last BRICS summit in Kazan, Russia, in November 2024, member nations discussed boosting non-dollar transactions and strengthening local currencies.
This raised the ire of US President-elect Donald Trump, who threatened the group's members with "100 percent tariffs" if they undercut the US dollar. This year's BRICS summit will take place in Rio de Janeiro in July.
Sam K Nkurunziza
Source : https://en.igihe.com/news/article/brics-endorses-indonesia-as-newest-member
