Brazil, the current presiding nation of the BRICS bloc, officially welcomed Indonesia as its newest full member on Monday. This marks a significant expansion of the influential alliance of emerging economies, which was initially formed in 2009 by Brazil, Russia, India, and China. South Africa joined in 2010, and in recent years, the bloc has further expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates.
Indonesia, the world’s fourth-most populous nation and the largest economy in Southeast Asia, had its candidacy for BRICS membership approved in August 2023 by the bloc’s leaders. However, the nation waited until its newly elected government was in place before formally joining the alliance.
In a statement, Brazil’s government expressed strong support for Indonesia’s inclusion, stating, “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.”
The inclusion of Indonesia strengthens BRICS’ position as a major global force, representing a diverse range of developing economies across the world. The bloc’s expanded membership now includes countries from multiple regions, all focused on promoting alternative models for global governance, economic growth, and international cooperation outside the influence of Western powers.
As part of the BRICS membership expansion, countries like Iran, Egypt, Ethiopia, and the UAE have already joined, with Saudi Arabia invited to join, though it has not yet officially committed. Several other nations, including Turkey, Azerbaijan, and Malaysia, have expressed interest in becoming members of the bloc, further amplifying its global significance.
However, the expansion of BRICS comes amidst global discussions regarding its economic influence, particularly in terms of the US dollar. In recent years, Russia and China, two key members of BRICS, have been exploring alternatives to the dollar in global trade, though India has not fully aligned with this shift.
Former U.S. President Donald Trump, in December 2023, warned BRICS members against replacing the US dollar with a new BRICS currency, threatening heavy tariffs and economic consequences for any member attempting to replace the dollar. The stance highlighted ongoing tensions between the U.S. and the growing economic bloc.
With Indonesia’s inclusion, BRICS continues to evolve, strengthening South-South cooperation and challenging traditional global economic frameworks. The addition of Indonesia reflects the ongoing shift in global power dynamics, with emerging economies asserting their influence on the world stage.
Sources By Agencies
