Brazil introduced on Monday that Indonesia has formally joined BRICS, strengthening the bloc of growing economies seen as a counterweight to the West.
Brazil’s international ministry mentioned in an announcement that Southeast Asia’s most populous nation “shares with the other members the will to reform the institutions of global governance and contribute positively to cooperation within the Global South.”
Brazil, which holds the rotating presidency of the grouping in 2025, mentioned Indonesia’s bid to hitch the bloc had been accepted throughout a summit in 2023 in Johannesburg.
BRICS was created in 2009 by founding members Brazil, Russia, India and China. South Africa joined the next 12 months.
Last 12 months, the grouping expanded with Iran, Egypt, Ethiopia and the United Arab Emirates changing into full members.
During its presidency, Brazil goals to spice up cooperation between nations of the “Global South” and reform multilateral establishments.
One of the goals, in keeping with the federal government of left-wing President Luiz Inacio Lula da Silva, is the “development of means of payment” to facilitate commerce between member nations.
During the final BRICS summit in Kazan, Russia in November 2024, member nations mentioned boosting non-dollar transactions and strengthening native currencies.
This raised the ire of U.S. President-elect Donald Trump, who threatened the group’s members with “100 percent tariffs” in the event that they undercut the U.S. greenback.
This 12 months’s BRICS summit will happen in Rio de Janeiro in July.
Source: www.dailysabah.com